TL;DR

KiloEx has officially announced the resumption of operations after a cyberattack compromised over $7 million.
Despite recovering $8.44 million with help from SlowMist, the $KILO token has dropped over 9% in the last 24 hours.
The platform introduced a compensation plan for traders, stakers, and VIP users in an effort to regain the trust of the crypto community.

After a cyberattack that forced its suspension, the decentralized platform KiloEx is returning to activity with an ambitious compensation plan and reinforced security measures. 

Compensation Plan Reinforces Community Trust

KiloEx announced on its official blog that it will compensate affected users, including traders with open positions, Hybrid Vault stakers, and VIP members. Traders will receive reimbursements if their losses worsened during the suspension. Additionally, stakers will get a 10% APY incentive in USDT, while VIP users will receive a one-level upgrade (except VIP7) along with a 30-day VIP status protection.

This strategy aims to restore credibility and retain the user base, demonstrating a responsible stance in the midst of a critical situation. At the same time, it highlights the importance of having external audits and collaborations with specialized security firms. In the long run, these efforts could result in greater user loyalty and a renewed image for the platform, which is striving to position itself as a symbol of resilience in the DeFi sector.

KiloEx Returns: Enhanced Security And Blockchain Collaboration

Although the recovery of funds was successful, the market still reacts cautiously: the native $KILO token has dropped 9.09% in the last 24 hours, currently trading at $0.04184, with a market cap of $8.85 million. This drop reflects the typical volatility of the crypto ecosystem, even in projects showing clear signs of recovery and determined leadership committed to long-term transparency and resilience. As the crypto sector matures, events like this underline the value of preparedness.

The resumption of operations was not taken lightly. KiloEx underwent a thorough security audit led by SlowMist, a firm that also helped track the stolen funds and facilitated their recovery through direct communication with the attacker via on-chain messages. This type of approach has become increasingly common in the crypto ecosystem, showing how transparency and blockchain technology can be key allies in resolving security incidents.

Despite market pressure, the team behind KiloEx shows a clear intent to remain firm in its decentralized vision. This episode reaffirms that security challenges do not cancel out the transformative potential of decentralized finance, they strengthen it through learning, innovation, and active response.

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Filed under: News - @ April 24, 2025 3:28 pm