Kiloex, a decentralized exchange (DEX) for trading in eternal futures, said on Friday that it recovered all its hacked funds after a sophisticated attacked this week left users rolled at a loss of about $ 7 million.
DEX works to close the legal process of recovering the funds and allocates 10% of the recovered amount as a bounty to the white hat hacker involved in the process.
“The legal process of formally closing the case is now in progress, in coordination with legal authorities, our legal team and third -party experts (special thanks to @lowmist_team @blitezero, who has long experience in such questions),” Kiloex said in a social media post on Friday.
Kiloex’s native token kilos increased more than 14% in 24 hours on the recovery news, while the wider market meter Coindesk 20 -Index remained flat on Friday.
The Crypto industry has been plagued by multiple hacks and exploitation, resulting in billions of dollars lost to attackers. Blockchain Security Firm Certique said hackers stole $ 1.67 billion for crypto in the first quarter of 2025, an increase of 303% from the previous quarter. Most of Q1’s losses were attributed to the huge BYBIT hack of $ 1.45 billion.
The Kiloex utilization on April 15 unfolded over several blockchain networks and seemed to come from a vulnerability in the platform’s price oracle system per day. Blockchain analysis company Cyvers. Oracles are blockchain-based tools that forward any external data to a blockchain where smart contracts use them to make decisions for a financial application.
The striker used a wallet funded through Tornado Cash and performed a number of transactions on the base, the BNB chain and the Taiko network to take advantage of an error in the platform’s price oracle system that enabled the striker to manipulate the asset prices.
Kiloex may be one of the cases of a crypto utilization where the result was positive for DEX as most are not so lucky. Certique said in the report that only 0.38% of stolen funds in the first quarter were returned compared to 42.09% in the previous quarter.
A growing trend highlighted by Kiloex’s hack resolution is that society met to recover the funds rather than waiting for long-drawn court matches leaving investors rolling in millions in losses. However, exploitation is still a sharp reminder of the serious risks of decentralized funding, where small vulnerabilities can lead to massive losses, testing confidence in the code.
Read more: Crypto Investors lost $ 1.67B for hacks and exploitation in Q1: Certique
