kiloEx recovers $7.5M after promising attacker 10% bounty

1 month ago

Decentralized speech level KiloEx revealed that it has recovered the full $7.5 cardinal stolen from it successful a caller exploit.

According to an April 18 statement:

“We are pleased to denote that we person palmy betterment of each stolen funds related to the caller information incident.”

The exploit was archetypal flagged by Cyvers, a blockchain information outfit, connected April 14.

According to the firm’s findings, the breach was traced to a vulnerability successful KiloEx’s terms oracle. The flaw enabled the attacker to manipulate prices crossed aggregate chains, including BNB, Base, and Taiko.

The wallet liable for the exploit had reportedly been funded via Tornado Cash, a fashionable crypto-mixing service often linked to laundering illicit funds.

KiloEx attacker gets 10% bounty

The DEX level had antecedently promised the attacker a 10% reward if they chose to instrumentality the stolen funds.

With the funds afloat recovered, KiloEx stated that it would support its committedness and “award 10% of the recovered magnitude arsenic a bounty to the achromatic chapeau involved, recognizing their publication to improving our platform’s security.”

Meanwhile, KiloEx besides stated that it would not prosecute ineligible action. Instead, the institution praised the incident’s solution arsenic a measurement toward fostering stronger ties with the ethical hacking community.

It added:

“We prioritize semipermanent collaboration with the ethical information assemblage and presumption this solution arsenic a cornerstone for communal trust…No further ineligible enactment volition beryllium pursued—this substance is considered resolved successful bully faith.”

The attacker’s enactment marks a uncommon occurrence successful an manufacture that has mislaid around $2 cardinal to hacks and exploits this year.

Slowmist laminitis Yu Xian recognized the rareness of this action, portion pointing retired that:

“Choosing to act as a white-hat hacker and claim a bounty might truly be the best solution in this industry. Of course, this process isn’t easy, with too many points requiring negotiation, and if not handled well, it can spiral out of control.”