KiloEx Exploited for $7.5 Million in Suspected Price Oracle Attack

• KiloEx suffered a major security breach, with the attacker stealing around $7.5 million across multiple blockchains.
• The attacker likely manipulated asset prices through a flaw in KiloEx’s price oracle system.
• The stolen funds include $3.3M from Base, $3.1M from opBNB, and $1M from BSC.

Decentralized exchange KiloEx has been hit by a major security breach, leading to a loss of around $7.5 million. The team confirmed the exploit early on April 15 during Asian trading hours and has since suspended all platform activity to contain the damage.

In a public update, KiloEx said they’re working with several security partners to track the attacker and recover the stolen funds. The hacker’s wallet address has been shared: 0x00fac92881556a90fdb19eae9f23640b95b4bcbd, and the team has urged other protocols to blacklist the address immediately to stop any further misuse.

So far, the stolen assets span across multiple chains including around $3.3 million was taken from Base, $3.1 million from opBNB, and $1 million from BNB Smart Chain, according to security firm PeckShield.

Experts Blame Oracle Manipulation for KiloEx Vulnerability

Both PeckShield and Fuzzland, a blockchain analytics firm, suspect the exploit was caused by a price oracle issue. This means the attacker may have tricked the platform’s pricing system — for example, opening a position when ETH/USD was shown as $100 and then closing it instantly at a manipulated price of $10,000, pocketing millions in one go. One transaction alone reportedly netted the hacker $3.12 million by exploiting an artificially inflated ETH/USD price.

KiloEx is now partnering with BNB Chain, Manta Network, and security teams like Seal-911, SlowMist, and Sherlock to investigate the incident across multiple ecosystems.

A bounty program is in the works to encourage information about the hacker, and the team promises to release a detailed report soon.

Meanwhile, the platform’s native token KILO has dropped over 29%, now trading at $0.036, down more than 76% from its all-time high on March 27. Founded in 2023, KiloEx is backed by Binance Labs, which also serves as a strategic partner. Further updates are expected as the investigation continues.

Highlighted Crypto News Today: 

DeFiance Founder Questions, Why Projects and Market Makers Collude to Fix the Crypto Market?