{"id":127177,"date":"2025-04-15T02:24:17","date_gmt":"2025-04-15T02:24:17","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127177"},"modified":"2025-04-15T02:24:17","modified_gmt":"2025-04-15T02:24:17","slug":"decentralized-exchange-kiloex-says-7-5m-exploit-has-been-contained","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127177","title":{"rendered":"Decentralized exchange KiloEx says $7.5M exploit has been contained"},"content":{"rendered":"

Source: Cointelegraph.com NewsDecentralized exchange KiloEX has confirmed it has suspended usage of its platform and is tracing stolen funds after suffering a $7.5 million exploit.\u00a0
\nThe exploit has been contained, with use of the platform suspended and an investigation underway, the KiloEX team said in an April 14 statement to X.
\n\u201cThe team has immediately suspended platform usage and is working with security partners to trace the flow of funds,\u201d KiloEX said.\u00a0
\n\u201cWe are analyzing the attack vector and affected assets. We are collaborating with ecosystem partners to trace and recover funds where possible.\u201d\u00a0
\nSource: KiloEXA bounty program and a full report on how the exploit occurred is also in the works, according to KiloEX.\u00a0
\nIn an update, the KiloEX team said it was collaborating with BNB Chain, Manta Network, and cybersecurity firms Seal-911, SlowMist and Sherlock in an effort spanning \u201cmultiple ecosystems.\u201d\u00a0
\n\u201cOur investigation has confirmed that the stolen assets are currently being routed through zkBridge and Meson,\u201d KiloEX said.\u00a0
\n\u201cWe are urgently attempting to engage with both protocols to halt ongoing transactions and prevent additional losses.\u201d\u00a0
\nKiloEX attacker exploited price oracle issue, say analysts\u00a0
\nCybersecurity firm PeckShield said in an April 14 post to X the exploiter looted $7.5 million in total, $3.3 million Base, $3.1m opBNB and $1m BSC.\u00a0
\nThe firm has speculated the exploit is likely a \u201cprice oracle issue,\u201d where the information used by a smart contract to determine the price of an asset is manipulated or inaccurate, leading to the exploit.\u00a0
\n\u201cOur initial analysis on one transaction exploit indicates a price oracle issue,\u201d PeckShield said.\u00a0
\nSource: PeckShield\u201cThe hacker exploits it to create a new position with initial given ETH\/USD price of 100 and then immediately close the position with inflated ETH\/USD price of 10000, netting the $3.12m profit in one single transaction.\u201d\u00a0
\nChaofan Shou, co-founder of blockchain analytics firm Fuzzland, also weighed in, speculating the exploit was likely due to a price oracle issue.
\n\u201cAnyone can change the Kilo\u2019s price oracle. They did verify that the caller shall be a trusted forwarder, though, but didn\u2019t verify the forwarded caller,\u201d Shou said.\u00a0
\nShou added it was a \u201cvery simple vulnerability\u201d when a user asked about the complexity of the exploit.\u00a0
\nSource: Chaofan ShouThe news has sent the KiloEX\u2019s native token, Kilo, plunging over 27% to trade at $0.03596, according to CoinGecko. It\u2019s still down over 78% from its all-time high of $0.1648, which it hit on March 27.
\nRelated: Mantra CEO says OM token recovery \u2018primary concern\u2019 but in early stages
\nKiloEx was established in 2023 and is backed by Binance Labs, which is a lead investor and strategic partner.\u00a0
\nThis exploit comes just days after the exchange announced a partnership with Dubai-based Web3 venture capitalist firm DWF Labs on April 13, which promised to expand KiloEx’s market presence and accelerate growth.\u00a0
\nOn March 25, DWF Labs launched a $250 million Liquid Fund to accelerate the growth of mid- and large-cap blockchain projects and drive real-world adoption of Web3 technologies.
\nMagazine: Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler\u2019s Digest, April 6\u201312Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsDecentralized exchange KiloEX has confirmed it has suspended usage of its platform and is tracing stolen funds after suffering a $7.5 million exploit.\u00a0 The exploit has been contained,… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127177"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127177"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127177\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127177"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}