Decentralized exchange KiloEx was hacked, and the project team initiated legal recourse

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MarsBit
04-15
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Mars Finance News, according to The Block, the decentralized exchange KiloEx based on Arbitrum was recently hacked, with losses amounting to $2.4 million. The attacker exploited a platform contract vulnerability by manipulating the price oracle through a flash loan.

Event Progress

Fund Tracking: Approximately 80% of the stolen funds remain in the attacker's address (0x7f3...f21), with no transfer occurring

Legal Action: The KiloEx team has filed a police report with Singapore authorities and contacted blockchain security company Chainalysis for assistance in tracking

Vulnerability Repair: The project team stated that contract audit has been completed and withdrawal functions have been suspended

Industry Impact

This incident once again highlights the security risks of DeFi protocols' dependence on oracles

KiloEx token (KILO) price plummeted 62% in 24 hours

Losses in the DeFi sector due to vulnerability attacks in Q1 2024 have exceeded $380 million (CertiK data)

KILO
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