KiloEx Recovers All Funds After $7 Million Hack
KiloEx, a decentralized exchange for perpetual futures, recovered $7 million in funds following a recent hack. The DEX is formalizing the recovery process with legal authorities and rewarding 10% of the recovered amount to the white hat hacker involved.
Key points:
- KiloEx's native token KILO increased by over 14% after the recovery announcement.
- In Q1 2025, hackers stole $1.67 billion in crypto, a 303% rise from the previous quarter, primarily due to the Bybit hack.
- The KiloEx exploit exploited a vulnerability in its price oracle system across multiple blockchain networks.
- The attacker used Tornado Cash to manipulate asset prices through various transactions.
- Only 0.38% of stolen funds were returned in Q1 2025, compared to 42.09% in Q4 2024.
- The incident underscores risks in decentralized finance due to vulnerabilities that can lead to significant losses.