Decentralized exchange KiloEX has confirmed it has suspended usage of its platform and is tracing stolen funds after suffering a $7.5 million exploit.
The exploit has been contained, with use of the platform suspended and an investigation underway, the KiloEX team said in an April 14 statement to X.
“The team has immediately suspended platform usage and is working with security partners to trace the flow of funds,” KiloEX said.
“We are analyzing the attack vector and affected assets. We are collaborating with ecosystem partners to trace and recover funds where possible.”
Source: KiloEX
A bounty program and a full report on how the exploit occurred is also in the works, according to KiloEX.
In an update, the KiloEX team said it was collaborating with BNB Chain, Manta Network, and cybersecurity firms Seal-911, SlowMist and Sherlock in an effort spanning “multiple ecosystems.”
“Our investigation has confirmed that the stolen assets are currently being routed t
