Cyber attack on KiloEx trading platform. $7.4 million theft. USDC funds at risk. Recovery efforts underway.
The decentralized trading platform KiloEx, supported by YZi Labs, fell victim to a multi-chain attack by hackers resulting in approximately $7.4 million loss. The attack was reported by the blockchain security platform Cyvers Alerts. The main cause was a vulnerability in the Oracle price access control. The stolen funds include USDC, which may be blacklisted by issuers. KiloEx has suspended platform operations and announced collaboration with blockchain security firms to recover the stolen funds. Further analysis revealed that the attacker manipulated the Oracle price to profit millions of dollars in a transaction.
