KiloEx Announces Full Compensation After $7.5M Hack Exploit

Decentralized exchange KiloEx revealed on April 24 that it will fully compensate traders who suffered losses during a $7.5 million hack caused by a price oracle vulnerability. In the announcement, the platform detailed that traders with open positions during the suspension will receive payment for any increased losses or reduced profits calculated from the time the platform resumes. Hybrid Vault stakers were assured that their principal and earnings would remain unaffected because the stolen funds had been reinjected into the vault, and qualifying stakers will also receive an extra 10% annual percentage yield bonus. KiloEx had earlier offered a white hat bounty to the hacker, allowing them to retain $750,000 if 90% of the stolen funds were returned. After transactions indicated a refund of funds, KiloEx dropped legal threats and confirmed the reward. The post-mortem report credited the exploit to the misuse of a permissionless function intended for authorized entities, a vulnerability flagged by security firm PeckShield. Meanwhile, related commentary highlighted a crash in the Mantra OM token that exposed critical liquidity issues within the crypto market.