Decentralized perpetual trading platform KiloEx has fallen victim to a cross-chain exploit that drained approximately $7.4 million, marking another major blow in the worst quarter on record for crypto hacks.
The incident occurred on April 14 and was first detected at around 7:30 PM UTC by blockchain security firm Cyvers Alerts. According to the alert, a wallet—funded through crypto mixer Tornado Cash—executed suspicious transactions across multiple networks, including Base, Taiko, and BNB Chain.
The root cause of the breach was later traced to a vulnerability in KiloEx’s price oracle access controls. Exploiters reportedly manipulated the ETH/USD price feed, artificially setting the value to $100 to open a position and closing it at $10,000—pocketing millions in a single move.
KiloEx responded swiftly, confirming the attack and halting all platform operations. The team has since begun working with major blockchain security firms—Seal-911, SlowMist, and Sherlock—and infrastructure partners like BNB Chain and Manta Network to investigate the breach and recover stolen assets. The attacker is believed to be moving funds via cross-chain bridges such as zkBridge and Meson.
In a public update, the platform called on exchanges and DeFi protocols to blacklist the wallet involved. It also announced plans to launch a bounty program and release a detailed postmortem to ensure transparency.
PeckShield estimates total losses from a recent exploit at around $7.5 million, with $3.3 million on Base, $3.1 million on opBNB, and $1 million on Binance Smart Chain (BSC). Some stolen funds were in USD Coin (USDC), potentially subject to blacklisting. According to Immunefi’s Q1 report, in 2025, the crypto space will have already incurred $1.64 billion in losses, primarily due to two major attacks on centralized platforms totalling $1.5 billion. Decentralized finance protocols, such as KiloEx, have lost $106.8 million across 38 incidents. Notably, Filament on the Sei blockchain lost approximately $572,000 in a recent exploit.
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