Decentralized crypto exchange KiloEx says it’s tracking the hacker’s wallets and is ready to escalate the case if the funds aren’t returned.
KiloEx, which was targeted in a cross-chain attack, has offered the hacker a deal to return the stolen funds, threatening further action if the funds are not returned. The protocol, backed by YZi Labs (formerly known as Binance Labs), was exploited for around $7.4 million in a breach earlier on Monday.
KiloEx confirmed the breach, acknowledging a vulnerability in its price oracle system as the root cause. The platform has since suspended its activities and initiated cooperation with blockchain security firms, alongside networks such as BNB Chain and Manta Network. KiloEx also called on protocols and platforms to blacklist the attacker’s wallet.
Now, to resolve the matter, KiloEx made a proposal directly to the hacker. In an X post on Tuesday, April 15, the KiloEx team said it’s tracking the hacker’s wallet addresses and is “prepared to freeze the stolen funds promptly.” The platform has also given the hacker a 72-hour deadline to return 90% of the stolen funds, offering a 10% bounty as a “whitehat bounty” for the hacker’s cooperation.
If the hacker fails to comply, KiloEx warned that it will “escalate the investigation with law enforcement and cybersecurity partners,” adding that the hacker’s identity and activities “will be exposed to relevant authorities.”
As crypto.news reported earlier, the exploit demonstrates a growing trend of attacks in the decentralized finance sector, with nearly $1.65 billion reported as stolen in Q1 alone, marking a record high in crypto exploits.
