KiloEx, a decentralized perpetual trading platform, has announced on social media platform X (formerly known as Twitter), a successful recovery of all the stolen funds in the April 15, 2025,security breach. The exchange is currently working closely with judicial authorities and cybersecurity experts to formally close the case.
Background: How the Hack Occurred
The hack, as reported earlier, was made possible by exploiting a critical vulnerability in KiloEx’s price oracle system that allowed the hackers to manipulate the token price and drain approximately $7.5 million across multiple blockchains, including Base, opBNB, and BNB Chain.
The hacker also used the flaw to open up positions at artificially lower prices and close them at inflated rates. This process generated illicit profits in millions.
Right after the breach, KiloEx immediately suspended the operations of the platform and reported the incident to the Hong Kong police and got in touch with security firms such as SlowMist, Seal-911 and Sherlock to investigate and trace the stolen assets.
White Hat Bounty and Building Trust with Security Community
With the collective efforts of the teams involved, KiloEx managed to track down the hacker’s on-chain addresses and blocked them to prevent any further misuse.
The platform also publicly offered a white hat bounty, where they offered the hacker to keep 10% of the recovered amount as a reward for returning the 90% of the stolen funds. This incentive led to the full recovery of the stolen assets and no victims were left uncompensated.
Legal Case Closure and Next Steps
KiloEx will also reward ethical hacker with a 10% bounty for responsibly disclosing a security issue. The company considers the matter to be closed and will not be pursuing any further legal action but will be focusing more on collaborating with the security community.
Gratitude to Partners and Community Support
In the tweet, the company also expressed their gratitude towards SlowMist, Binance and others for helping with the security issue. The company also appreciates users’ patience and trust, promising to maintain high security and hence plans on collaborating with the security community more.
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