Cyvers blockchains said that exploit affected three networks: BNB Smart Chain, Base and Taiko. The attacker replenished his address through the Tornado Cash cryptomyxer, which hides traces of transactions, and then began to manipulate prices using the vulnerability of the Kiloex price oracle. Using this technique, the hacker was able to quickly move the funds between several chains.
KiloEx stopped trading activities on the platform. The exchange team launched a rewarding program for finding errors and began to cooperate with “white hackers” in order to track the stolen crypto acts, make an attacker’s address and prevent further losses. KiloEx has not yet reported whether vulnerability has been corrected.
The incident occurred twenty -one days after the generation of tokens on Kiloex. The platform began to develop thanks to partnership with Binance Wallet and Pancakeswap. Per day, Kilo token fell by almost 30%, and the volume of Token trading decreased by 74%, to $ 65.5 million. In a few hours, the Kilo market capitalization fell by $ 3.5 million: from $ 11 million to $ 7.5 million.
In 2022, the Mango Market trading platform, which lost $ 114 million, suffered from such an attack. Earlier, hackers hacked the Defi Cream Finance protocol – its losses amounted to about $ 110 million.
Source: Bits
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