Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13284
Markets: 100679
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Moralis Money
Market Cap
24h Vol
13284
Cryptocurrencies
62.39%
Bitcoin Share
The Coin Rise 2025-04-18 22:00:28

KiloEx Recovers $7.5M Siphoned After Major System Breach

KiloEx Recovers $7.5M Siphoned After Major System Breach

KiloEx, a decentralized exchange, has recovered all of the $7.5 million stolen in a recent hack . This happened just a few days after the attack was discovered. Instead of using legal threats or launching an investigation, KiloEx tried a different method. This method could set a precedent and change how similar cases are handled. How the Hack Happened On April 14, Cyvers, a blockchain security firm, detected a serious breach on KiloEx. The main problem came from the platform’s price oracle, a tool that gives price updates to the exchange. Sadly, the attacker found a way to manipulate this tool. The attacker exploited the system’s weakness and took advantage of price differences on several blockchains, like BNB, Base, and Taiko. The bad actor siphoned the stolen funds through a wallet on Tornado Cash, a crypto-mixing platform often used for money laundering and hiding stolen funds. The wallet used in the hack received money through Tornado Cash. Tornado Cash is a tool that mixes different crypto transactions to hide where the money comes from. Hackers and criminals often use it to cover their tracks and move stolen money without being caught. This got people worried that the money might be lost forever. However, KiloEx did not give up. Hacker Returns $7.5M, Gets $750,000 Reward Soon after the breach, KiloEx made an unusual proposal. The exchange told the attacker that if the money were returned, it would receive 10% as a reward. This kind of reward, often called a bounty , is typically offered to white-hat hackers, who are ethical hackers who help expose security flaws without harming others. To everyone’s surprise, the attacker returned all the stolen funds. KiloEx said it would be true to its word and give the hacker 10% of the recovered amount, which amounts to $750,000. The company said the reward was a way of thanking the individual for helping improve its security. KiloEx Solves Hack Issue with No Legal Battle Rather than press charges or open a legal case, KiloEx said it considers the issue resolved. The company praised the outcome and emphasized building trust with ethical hackers. The exchange believes that working with security experts is a better way to protect users and grow stronger as a platform. So far this year, hackers and exploiters have stolen about $2 billion from different platforms. In most cases, the funds were never recovered, and the attackers vanished. Yu Xian, a respected figure in blockchain security, said the decision to return the funds and claim the bounty is rare and difficult. However, it might be the smartest option for hackers who realize the damage they could cause. The post KiloEx Recovers $7.5M Siphoned After Major System Breach appeared first on TheCoinrise.com .

Most Read News

https://www.digistore24.com/redir/325658/ceobig/
Market Cap
24h Vol
62.39%
Bitcoin Share
18
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.