Oh dear, KiloEx, darling of decentralized trading and backed by the ever-so-serious YZi Labs, has found itself in a bit of a pickle—reportedly losing around $7.4 million in a cross-chain escapade that makes a soap opera look like a documentary.
The drama began brewing on April 14, 2025, at 7:30 PM UTC (because all good scandals happen right on schedule). Blockchain security sleuths at Cyvers Alerts raised the alarm bells, and it turns out that a wallet funded by that almost-too-cool-for-school Tornado Cash had been up to some shady business on the Base, Taiko, and BNB chains. Apparently, who knew a price oracle access control vulnerability could cause such chaos? 🚨
🚨7M HACK ALERT🚨Our system has detected multiple suspicious transactions involving @KiloEx_perp across several chains.
An address funded via @TornadoCash has executed a series of exploitative transactions on the $BNB, $Base, and $Taiko chains — accumulating approximately $7M in…
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 14, 2025
KiloEx wasn’t having any of it. They dusted off their best corporate crisis PR and urged everyone to blacklist the attacker’s wallet, promptly halting their platform activities. How avant-garde! What’s more, they even announced they’d be engaging with bridge protocols—perhaps to build a literal bridge to fetch back their lost funds? Or just a really tech-savvy way to say “fix this mess.”
🚨 Security Incident Announcement: KiloEx Vault Exploit
Dear KiloEx Community,
We regret to inform you that the KiloEx Vault has been exploited. The attacker’s wallet address is:
0x00fac92881556a90fdb19eae9f23640b95b4bcbd
We urge all partner protocols and platforms to…— KiloEx (@KiloEx_perp) April 14, 2025
In a twist that rivals any mediocre thriller, the team announced they were pulling in the heavy hitters—security firms like Seal-911 (sounds like a superhero group), SlowMist, and Sherlock (presumably, not *the* Sherlock) to recover the missing loot. Those funds, like precocious teenagers, had already been bridged via zkBridge and Meson. Oh, the joys of recovering stolen assets in the blockchain world!
Meanwhile, the whiz kids at PeckShield took a stab at the numbers and estimated losses at an eyebrow-raising $7.5 million—$3.3 million from Base, $3.1 million from opBNB, and a cheeky $1 million from BSC. Just when you thought it couldn’t get any worse, they confirmed that via some crafty manipulations, the attacker opened a position with an ETH/USD price of 100 and then closed it at the staggering value of 10,000! Talk about a wild profit margin. 📈💰
The @KiloEx_perp protocol was hacked today with a loss of ~7.5m ($3.3m in base, $3.1m in opBNB, $1m in BSC).
The protocol is now paused! 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…
— PeckShield Inc. (@peckshield) April 14, 2025
Alas, the KiloEx saga is just another episode in the now regular DeFi hack series. In Q1 2025 alone, a jaw-dropping $1.64 billion went missing, making it officially the worst quarter for cryptocurrency exploits—or as I like to think of it, “The Great Crypto Heist of 2025.” Centralized finance platforms lost $1.5 billion in two dramatic attacks, while DeFi protocols—those trying to be cool and edgy—suffered a mere $106.8 million in 38 incidents. Who knew finance could be this entertaining?
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2025-04-15 08:29