KiloEx decentralized exchange promised to completely compensate for losses to users who suffered from a recent hacker attack, during which cryptoactives of $ 7.5 million were stolen from the site.

The leadership of KiloEx said that it would compensate for the loss of traders whose positions were injured from the suspension of the platform. The exchange will cover the “gap” in profits or losses that arose due to a temporary stop of trade. The KilOEX team recommended that the traders close their open positions after the resumption of work, explaining that the compensation will be calculated depending on the time of restarting the platform.

The platform has already completely returned the stolen funds to users who made stacing in the Kiloex Hybrid Vault storage. KiloEx will offer 10%annual profitability (APY) to stakers in whom the funds were in the storage until the platform is renewed.

The hacking incident occurred last week. The attacker took advantage of the vulnerability, which allowed him to manipulate the price oracle of the exchange. The hacker opened positions at specially low prices, and went out at high prices, making a lot of profit. Peckshield analysts estimated the total losses of the exchange of $ 7.5 million. Of which, $ 3.3 million were transferred to the BASE blockchain, $ 3.1 million to OPBNB and $ 1 million in Binance Smart Chain (BSC). Part of the stolen funds was in USDC stablecoins.

Later, KiloEx offered the hacker a reward of 10% of the stolen amount ($ 750,000) if he agrees to return the stolen cryptoactives. The hacker returned the exchange part of the funds so that Kiloex did not pursue him in court.