Hackers at Work Again: They Targeted a Cryptocurrency Platform, Here’s the Amount of Loss

KiloEx, a decentralized perpetual trading platform, suffered a massive hack that resulted in losses of approximately $7 million. The attack affected multiple blockchains, including BNB Chain, Base, and Taiko. According to blockchain security firm Cyvers, the attacker used an address funded through Tornado Cash to execute the on-chain attack. Preliminary investigations suggest that the breach may have been caused by access control issues in KiloEx’s price oracle, which may have allowed the attacker to manipulate core functionality. In response, KiloEx has suspended operations on the platform and is collaborating with several leading security firms and blockchain networks to investigate the incident and recover the stolen funds. Partners include BNB Chain, Manta Network, Seal-911, SlowMist, and Sherlock. Related News: Major Cryptocurrency Whales on the Move: Here’s What They’ve Been Trading in Recent Hours “We are actively collaborating with leading blockchain security partners including BNB Chain, Manta Network, and Seal-911, SlowMist, and Sherlock to investigate the recent KiloEx Vault attack and trace the stolen assets,” KiloEx said in an official announcement. The platform also announced plans to launch a bounty program as part of its response strategy and promised to release a comprehensive incident report detailing the findings and next steps. KiloEx, a Token Generation Event (TGE) project on Binance Wallet, has received funding from YZi Labs and is also available on Binance Alpha. *This is not investment advice. Continue Reading: Hackers at Work Again: They Targeted a Cryptocurrency Platform, Here’s the Amount of Loss

Source: BitcoinSistemi