Crypto Alternate Kiloex Hack A new update has surfaced in the case. The platform has issued a public appeal through its X (first Twitter) account after a recent $ 7.5 million hack. In which the company has offered the hacker that if it returns 90% stolen tokens, then it will be allowed to keep the remaining 10% i.e. about $ 750,000, White Hat Bounty.
Both apologies and rewards on fund return
Kiloex has said that if the hacker accepts this offer, he will consider this whole matter as a “Security Test”. That is, it will not be considered a cyber attack, but a kind of system check. In such cases, many times white hat hackers are given rewards for catching bugs or deficiency. Kiloex is also following this model, which can make up for the loss and the system in the future becomes more strong.
Kiloex’s Investigation continues
Kiloex’s team said that they are investing the matter in collaboration with many cyber security experts, exchange and law agency. He has also identified and made public public. Also, he has clearly stated that if the hacker does not accept this offer, he will revive the identity of the hacker and take legal action.
What is White Hat Hacking?
White Hat Hacking is called Moral Hacking in common language. In this, cyber experts find the weekness of the system to fix them. These people do not harm any system but help in improving their security.
Many companies give them Trojan Horse Bounty for this work i.e. rebel to catch a shortage. Kiloex offer is also similar.
Conclusion
This step of Kiloex shows that the company is adopting a Peaceful approach to end the case with a hacker. The entire cyber world is struggling with the ever increasing cases of hacking, before Bybit hack Was in the headlines, this hacking of $ 1.4 billion is said to be the biggest hacking of the Crypto World. Since the Internet and Cyber World is beyond the borders of the countries, there is an immediate need to take a strong step at the global level on cyber security matters. Due to lack of correct regulation and half incomplete government support, platforms associated with crypto become more vulnerable in this case.
