KiloEx, a decentralized exchange of unlimited futures, offered $ 700 thousand hacked hacker for a part of the stolen funds. The exchange was hacked on the evening of April 14. The hacker manipulated tokens, which allowed him to withdraw from the site a cryptocurrency of $ 7 million, reports RBC Crypto.
Cyvers was the first to report a hack. According to them, the attacker was able to withdraw cryptocurrencies from several blockchains: Base, BNB Chain and Taiko. The Kiloex team later confirmed the hack, suspended the work of the platform and stated that “vulnerability is localized”, and an investigation was launched.
When hacking, the hacker took advantage of the vulnerability in managing the price oracle. Oracles collect data on quotes from various networks and transmit them decentralized applications such as KiloEx to determine the prices of assets during trade.
In this case, the attacker took advantage of the loophole in the pricing system Kiloex and forced the platform to accept false quotes. Then he spent several transactions with the credit shoulder, according to The Block. The data showed that the profit from one such transaction on Kiloex during the incident amounted to more than $ 3 million.
On April 15, the Kiloex team turned to the hacker with a proposal to return 90% of the stolen funds. The remaining 10% (about $ 700 thousand) the platform proposed to leave the cracker as a Bounty.
“We will publish this decision on Twitter, recognizing your cooperation and closing the case without further actions. If you agree, please contact us, ”the exchange team wrote.
If the attacker ignores Kiloex’s proposal, the exchange promised to investigate the incident together with law enforcement officers and go to court:
“If you do not obey the requirements: we will transfer the investigation materials to law enforcement agencies and cybersecurity partners. Your personality and actions will be disclosed to the relevant authorities. We will tirelessly seek a trial. The choice is yours. Act right now to avoid irreversible consequences, ”Kiloex was threatened.
The scheme called “Oracle attack” has already been used earlier. In 2022, Abraham Aizenberg stole about $ 110 million from the Mango Markets, using what he called the “high -volume trading strategy”, Kotraya changes market prices for futures. A little later, he was arrested in Puerto Rico and extradited to the United States, where in 2024 he was convicted on charges of fraud.
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Source: Cryptocurrency
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