KILOEX

DESCRIPTION OF EVENTS

KiloEx is a growing cryptocurrency trading platform offering various services for users interested in trading digital assets. One of its major promotions includes a giveaway for new users—upon completing their first trade in the KILO/USDT pair, users can earn 100 KILO tokens. Additionally, new signups are eligible to receive a welcome gift of up to $200. Users can also connect their wallets to unlock earning opportunities, making KiloEx attractive for both novice and seasoned crypto traders.

The platform boasts impressive statistics, with over $38 billion in total trading volume, more than $6 million in open interest, and a user base of over 878,000 individuals. It also highlights over 1 million users on its Telegram app channel, suggesting strong community engagement. KiloEx is backed by partnerships and has undergone security certification, enhancing trust among users.

KiloEx provides a variety of trading options, including hot derivatives for popular cryptocurrencies like BTC, ETH, SOL, and XRP. The platform also lists meme coins and trending assets such as FARTCOIN and BROCCOLI714. FARTCOIN, in particular, leads the top gainers list with a notable 9.95% increase. KiloEx regularly updates its new listings and features an active ecosystem that includes referral programs, affiliate opportunities, airdrops, and community support through channels like Discord and multiple localized Telegram groups.

PeckShield: "Our initial analysis on one exploit tx indicates a price oracle issue. And the hacker exploits it to create a new position with initial given ETHUSD price of 100 and then immediately close the position with *INFLATED* ETHUSD price of 10000, netting the $3.12m profit in one single tx."

PeckShield reports "a loss of ~7.5m ($3.3m in base, $3.1m in opBNB, $1m in BSC)".

"The exploit has been contained. The team has immediately suspended platform usage and is working with security partners to trace the flow of funds. The team will release a bounty program.

We are analyzing the attack vector and affected assets. We are collaborating with ecosystem partners to trace and recover funds where possible. We are preparing a full report which will be shared with the community in the coming days."

While KiloEX confirmed that the exploit was quickly contained and is now under investigation with the help of top blockchain security firms, the damage was already done. The exchange's native token, Kilo, suffered a sharp decline—dropping over 31% to $0.0353, and losing more than 78% of its value since its March peak. KiloEX focused on recovering the stolen assets through a bounty program and collaborative efforts with partners like BNB Chain and SlowMist. It appears that the lost funds were ultimately recovered.

It appears that the lost funds were ultimately recovered.

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KiloEX is a fast-growing cryptocurrency trading platform known for its diverse offerings, including hot derivatives, meme coins, and generous new user promotions like 100 free KILO tokens and up to $200 in welcome gifts. With over $38 billion in trading volume and nearly 900,000 users, it boasts a strong community presence across platforms like Telegram and Discord. Despite a major $7.5 million exploit caused by a price oracle flaw, the breach was quickly contained, and the platform worked with top security firms to trace and recover the stolen funds—ultimately succeeding. KiloEX has since reaffirmed its commitment to user trust through security certification and ongoing transparency.

KiloEx - Rekt (Apr 21)
Chaofan Shou - ".@KiloEx_perp is hacked. $6M+ loss already. Likely due to price oracle access control issues." - Twitter/X (Apr 21)
Cyvers Alerts - "An address funded via @TornadoCash has executed a series of exploitative transactions on the $BNB, $Base, and $Taiko chains — accumulating approximately $7M in total." - Twitter/X (Apr 21)
Chaofan Shou - "Anyone can change the Kilo's price oracle. lol" - Twitter/X (Apr 21)
KiloEx - "Security Incident Announcement: KiloEx Vault Exploit" - Twitter/X (Apr 22)
PeckShield - "The @KiloEx_perp protocol was hacked today with a loss of ~7.5m ($3.3m in base, $3.1m in opBNB, $1m in BSC)." - Twitter/X (Apr 22)
Binance-Backed DEX KiloEX Suspends Operations Following $7.5 Million Exploit - Decrypt (Apr 22)
KiloEx's KILO Token Surges as Funds Recovered Swiftly After ‘Sophisticated’ Hack - CoinDesk (Apr 22)
Attacker Profits 3,125,495.724597 USDC - BaseScan (Apr 22)
Attacker Profits 892,937.51908942 BSC-USD - BNBScan (Apr 22)
Attacker Profits 2,885,961.64279485 USDT - OPBNBScan (Apr 22)
Attacker Profits 40,959.971124 USDC - TaikoScan (Apr 22)
Attacker Profits 100,000 USDT - Manta Network (Apr 22)
Decentralized Exchange KiloEX Freezes Platform Following $7.5M Exploit - CryptoNews (Apr 22)
KiloEx - "We are pleased to announce that we have successful recovery of all stolen funds related to the recent security incident. This outcome underscores our commitment to protecting user assets and fostering a secure ecosystem." - Twitter/X (Apr 22)

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