Crypto Alternate Kiloex Hack But big updates have come out. Blockchain security firm Peckshield has posted on X and told that the hacker has returned $ 1.4 million from the stolen $ 7.5 million funds. It was reported that this fund has been transferred directly to Kiloex’s official wallet. This has increased the agreement between the platform and the hacker and the chances of resolving the matter.
How did hacking happen?
As the investigation is moving forward, detailed information related to hacking is coming out. Investigations have revealed that it was a cross-chain attack, in which the funds on Bottom, OPBNB and BNB Chain were damaged. This attack was carried out by Orchakal Manipulation, the hacker increased the price of Eth/USD and drained funds. Oracle manipulation is a type of price manipulation, in which attackers change the value of tokens by feeding the wrong data in smart contracts.
Kiloex suffered a loss of $ 3.3m on Bottom, $ 3.1m on OPBNB and $ 1M on BNB Chain in this attack. Out of which only $ 1.4 million has returned.
Investigation of investigation and progress
After this hacking, Kiloex offers $ 7.5 million bounty to hackers Which was 10% of the stolen funds. The company gave a 72 -hour ultimatum to accepted which. On receiving no response inside the deadline fixed by the hacker, the company lodged an official report in the Hong Kong Police on 17 April and partnered with the Cyber Security firm Slolymist. The company has also said to release a detailed report on the entire matter soon.
Company’s strategy regarding users
Kiloex is currently working to re -activate its trading platform. The company has said that all open objections will be settled on the pre -attack values, so that no user will have to face forced liquidation. Also, the company has been working on a compensation plan to restore the trust of users.
Conclusion
Although the entire fund has not returned yet, the return of $ 1.4 million is also an important development in the case. This is an outsider of the company adopted in this entire case of the company. This is a difficult time for Kiloex, but it can regain the Market Trust by giving priority to transparency and user security.
