Hacker Drains $7.5M From KiloEX Using Simple Oracle Manipulation
The post Hacker Drains $7.5M From KiloEX Using Simple Oracle Manipulation appeared on BitcoinEthereumNews.com.
This prompted an immediate platform suspension and a broad investigation involving major cybersecurity firms. Separately, Emblem Vault CEO Jake Gallen lost more than $100,000 in a sophisticated Zoom-based social engineering attack by the hacker group “ELUSIVE COMET.” Meanwhile, Mantra CEO John Mullin denied all of the allegations of insider selling before the OM token’s recent 90% crash. He also challenged the accuracy of wallet attribution and pledged to release on-chain proof to clear major investors like Laser Digital and Shorooq Partners. KiloEX Suffers Major $7.5 Million Exploit Decentralized exchange KiloEX confirmed that it suffered a $7.5 million exploit. This led to the immediate suspension of its platform as the team works to trace and recover the stolen funds. In a statement that was issued on April 14, KiloEX said it is collaborating with security partners and ecosystem players to investigate the incident and prevent any more losses. The team is analyzing how the attack happened and also committed to releasing a full post-mortem report alongside a bounty program for those who help in recovering the assets. The breach seems to have exploited a vulnerability related to the platform’s price oracle mechanism. Analysts from cybersecurity firm PeckShield suggested that the attacker manipulated the ETH/USD price feed, initially opening a position with an artificial price of 100 and then closing it with an inflated price of 10,000. This allowed the attackers to gain over $3.1 million in a single transaction. The firm confirmed that stolen assets included $3.3 million on Base, $3.1 million on opBNB, and $1 million on BNB Smart Chain. It was also revealed that the attacker is routing the stolen funds through protocols like zkBridge and Meson. KiloEX is urgently engaging with both protocols to halt transactions and prevent additional losses. The platform is also working with BNB Chain,…
Filed under: News - @ April 15, 2025 9:22 am