KiloEx Offers $750,000 Bounty to Hacker Who Stole $7.5 Million

Decentralized exchange (DEX) KiloEx has taken a proactive approach to address a recent security breach by offering a $750,000 bounty to the hacker responsible for exploiting $7.5 million in cryptocurrency from its platform. The offer, made on April 15, is part of a broader strategy to recover the stolen assets and mitigate further damage.

KiloEx has been working closely with law enforcement, cybersecurity agencies, and other exchanges to gather information about the hacker's activities. The DEX has also shared wallet addresses linked to the hackers, which are being actively monitored by the platform and its partners. KiloEx has stated its readiness to freeze the stolen funds, but has extended an offer to the hacker: return 90% of the stolen assets and receive a 10% white hat bounty of $750,000 in exchange.

The incident occurred on April 14 when a hacker exploited a price oracle vulnerability on the KiloEx platform. According to reports, approximately $3.3 million in Base, $3.1 million in opBNB, and $1 million in BSC tokens were stolen. The exploit was facilitated by manipulating the information used by a smart contract to determine the price of assets. In response to the attack, KiloEx suspended its DEX operations and contained the exploit.

KiloEx has made it clear that if the hacker returns the funds, the matter will be considered resolved, and the DEX will publicly acknowledge the settlement. The platform has urged the hacker to contact them via email or send an onchain message if they accept the offer. However, if the hacker does not comply, KiloEx has warned that it will escalate the matter to relevant law enforcement agencies and pursue legal action with the support of its cybersecurity partners.

This incident highlights the ongoing challenges faced by decentralized finance platforms in securing their systems against sophisticated cyber threats. KiloEx's response demonstrates a strategic approach to mitigating the impact of the breach while also attempting to recover the stolen assets through negotiation and legal means. The platform's willingness to offer a significant bounty reflects its commitment to resolving the issue and restoring trust among its users.