So, it turns out that decentralized exchange KiloEX has hit the pause button on its platform after a little incident involving a $7.5 million exploit. You know, just a casual Tuesday in the crypto world! 💁♀️
The KiloEX team, in a statement that sounds like it was written during a coffee break, confirmed that they’ve suspended platform usage and are currently playing detective to trace the stolen funds. Because who doesn’t love a good treasure hunt? 🕵️♂️
“We’re on it!” said KiloEX, probably while sipping their lattes. “We’re analyzing the attack vector and affected assets. We’re collaborating with ecosystem partners to trace and recover funds where possible.” Sounds fancy, right? 🤷♀️
Oh, and they’re also cooking up a bounty program and a full report on how this whole mess happened. Because nothing says “trust us” like a report, right? 📄
In a plot twist worthy of a soap opera, KiloEX is teaming up with BNB Chain, Manta Network, and some cybersecurity firms that sound like they belong in a Marvel movie: Seal-911, SlowMist, and Sherlock. Talk about a superhero squad! 🦸♂️
“Our investigation has confirmed that the stolen assets are currently being routed through zkBridge and Meson,” KiloEX said, probably while looking over their shoulders. “We’re urgently trying to engage with both protocols to stop the bleeding.”
KiloEX Attacker: The Price Oracle Bandit? 🏴☠️
According to cybersecurity firm PeckShield, the exploiter made off with a whopping $7.5 million, which is basically a small fortune in Monopoly money. They speculated it’s a “price oracle issue,” which sounds like something you’d hear in a bad sci-fi movie. 🤖
“Our initial analysis indicates a price oracle issue,” PeckShield said, probably while shaking their heads. “The hacker exploited it to create a new position with an initial ETH/USD price of 100 and then immediately closed the position with an inflated price of 10,000. Voilà! $3.12 million profit in one transaction. Easy peasy!” 💰
Chaofan Shou, co-founder of Fuzzland, chimed in, saying anyone can change Kilo’s price oracle. “They verified the caller should be a trusted forwarder, but didn’t check the forwarded caller. Oops!” he added, probably rolling his eyes. 🙄
As a result of this little fiasco, KiloEX’s native token, Kilo, has taken a nosedive of over 27%, trading at $0.03596. It’s still down over 78% from its all-time high of $0.1648, which it hit on March 27. Ouch! 📉
KiloEx, established in 2023 and backed by Binance Labs, is now facing the music just days after announcing a partnership with Dubai-based DWF Labs. Because nothing says “let’s grow” like a $7.5 million hole in your pocket! 🎭
On March 25, DWF Labs launched a $250 million Liquid Fund to help mid- and large-cap blockchain projects. Let’s hope they can help KiloEx find its way back! 🌊
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2025-04-15 04:46