Cybersecurity experts are speculating the KiloEX exploit was likely caused by a price oracle issue, where the price of assets was manipulated.
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.
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