“The FIRM WILL BE AWARDING A 10% Bounty to White Hat Hackers Involved in the Resolution of the Exploit.”, – WRITE: www.coindesk.com
The dex is working to close the Legal Process of Recovering the Funds and Is Awarding 10% of the Recovered Amount As A Bounty to the White Hat Hacker Who Was Involved in the Process.
“The Legal Process to Formally Close The Case Is Now Underway, In Coordination with Judicial Authoritities, Our Legal Team, and Third-Party Experts Extension Experience in Such Matters), “Kilooex Said in a Social Media Post on Friday.
KiloEx’s Native Token Kilo Surged More than 14% in 24 Hours on the Recovery News, While The Broader Market Gauge Coindesk 20 Index RemAned Flat on Friday.
The Crypto Industry Has Been Plagued by Multiple Hacks and Exploits, Resulting in Billions of Dollars Lost to Attackers. Blockchain Security FIRM CERTIK SAID THAT HACKERS STOLE $ 1.67 Billion Worth of Crypto in the First Quarter of 2025, and 303% Rise from the Previous Quarter. MOST OF THE Q1’s Losses Were Attributed to the Massive $ 1.45 Billion Bybit Hack.
The KiloEx Exploit on April 15 Unfolded Across Multiple Blockchain Networks and Appeared to STEM from A vulneraciness in the platform’s price oracle system, per Blockchain Analysis Firm. Oracales are Blockchain-Based Tools that Relay Outside Data to A Blockchain, Whore Smart Contracts Use Them to Make Decisions for a Financial Application.
The attacker used a wallet Funded Through Tornado Cash and Execuceded A Series of Transactions on the Base, Bnb Chain and Taiko Networks to Take Advantage of a Flaw in the Platfor ALLOWED The Attacker to Manipulate Asset Prices.
The KiloEx Might Be One of the Cases of a Crypto Exploit, WHERE The OUTCOME WAS POSITIVE FOR THE DEX, AS MOST ARIN’T as Lucky. Certyk Said in the report that only 0.38% of Stolen Funds in the first quarter was retrieved compared to 42.09% in the previous Quarter.
One Growing Trend Highlight by KiloEx’s Hack Resolution is that Community Came Together to Recover the Funds Rater Thran Wait for Long-Drawn Court Battles in Les. However, The Exploit Is Still A Still Reminder of the Serious Risks in Decentralized Finance, WHERE SMALL VULNARABILITIES COURCKE COURCE LEAD TO MASSIVE LESSES, TESTING The TRUST IN THE CODE.
Read More: Crypto Investors Lost $ 1.67b to Hacks and Exploits in Q1: Certik
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