Overview
KiloEx, a decentralized exchange (DEX), announced it successfully retrieved all funds lost due to a sophisticated hack that had previously left users with losses totaling around $7 million. The exchange will be granting a 10% reward from the recovered funds to the white hat hackers who contributed to this recovery effort.
Key Points:
- KiloEx confirmed the successful recovery of hacked funds on Friday.
- A 10% bounty will be awarded to the white hat hackers involved in the recovery.
- The hack exploited a weakness in KiloEx’s price oracle system, underscoring vulnerabilities in decentralized finance.
KiloEx Recovery
Detailed Report
The recent hacking incident against KiloEx involved significant financial implications; however, the exchange is taking steps to rectify the situation by legally finalizing the recovery process. The DEX has stated they are working closely with judicial authorities and engaging experts in the field.
On social media, KiloEx expressed their gratitude to key contributors in the recovery process. Following the recovery announcement, Kilo’s token value jumped over 14% within a span of 24 hours, whilst the broader market trends have remained largely unchanged.
The crypto industry continues to face security challenges. According to blockchain security firm CertiK, hackers stole an estimated $1.67 billion in cryptocurrency during the first quarter of 2025 — a drastic increase from previous quarters. CertiK’s report indicated the majority of Q1 losses were attributed to the notorious $1.45 billion hack of Bybit.
Final Thoughts
The KiloEx attack on April 15 was significant as it highlighted not only the potential for recovery in such incidents but also the persistent threats facing decentralized finance platforms. It serves as a wake-up call for the community regarding the serious risks associated with small vulnerabilities in code, which can lead to substantial financial losses.
