The KiloEx platform has faced a serious hacking incident resulting in a $7 million theft. This event impacted operations across several blockchains, including BNB Chain.
Overview of the Attack
According to blockchain security firm Cyvers, the attack was executed through a malicious address funded by Tornado Cash. Initial investigations indicate that the exploit stemmed from access control vulnerabilities within KiloEx’s price oracle, allowing manipulation of core contract functions.
KiloEx's Response Measures
Following the breach, KiloEx immediately suspended operations and began collaborating with major security and blockchain partners to trace the stolen funds. Partners include BNB Chain, Manta Network, and others. "We are actively collaborating with leading blockchain security partners to investigate the recent KiloEx Vault attack and trace the stolen assets," KiloEx representatives stated.
Security in the DeFi Space
This incident once again highlights the ongoing security challenges faced by DeFi platforms, particularly those spanning multiple chains. KiloEx also announced the launch of a bounty program as part of its remediation efforts and pledged to release a full incident report soon.
The KiloEx hack serves as another significant event regarding security in decentralized finance. Platforms operating across multiple networks continue to face challenges in protecting their users and assets.
