KiloEx Exchange Recovers $7.5 Million Following Hacker’s Return of Funds
KiloEx, a decentralized exchange, suffered a hack on April 15, losing $7.5 million when the attacker manipulated pricing oracles to obtain tokens at reduced rates.
KiloEx's Response
- KiloEx announced a 10% bounty of $750,000 for the return of 90% of stolen funds.
- The DEX is monitoring the hacker's addresses and plans to freeze the stolen assets.
- Trading was paused immediately after the breach.
Recovery of Stolen Funds
- The hacker returned the stolen tokens within days.
- KiloEx rewarded the white hat with 10% of the recovered amount for exposing security flaws.
- No further legal action will be pursued; the matter is considered resolved.
KiloEx aims to enhance its security measures following this incident. Despite the recovery, scams and hacks in the crypto sector continue to escalate, exemplified by the recent Bybit hack involving North Korean-linked hackers.