Breaking: KiloEx Exploited for $7.4M in Shocking Cross-Chain Attack!

Hackers Strike Using Tornado Cash-Funded Wallet

Hold onto your hats, crypto fans! KiloEx, the hotshot decentralized perpetuals trading platform backed by YZi Labs, just got rocked by a $7.4 million heist in a wild cross-chain attack. This is no small-time gig; it's a full-blown crypto caper!

Security Alert Sounds: Cyvers Alerts Flags the Attack

The alarm bells started ringing on Apr. 14 at 7:30 PM UTC when the eagle-eyed blockchain security platform, Cyvers Alerts, spotted the action. A wallet, juiced up via Tornado Cash, was caught red-handed making shady moves across Base, Taiko, and BNB Chain. Word on the street is that the crooks got in through a price oracle access control vulnerability. And guess what? They made off with USD Coin (USDC), which could soon be blacklisted faster than you can say "crypto heist."

KiloEx Responds: Platform Paused, Bounty Offered

KiloEx didn't waste time. They confirmed the exploit, hit the panic button, and told everyone to blacklist the hacker's wallet. They slammed the brakes on all platform activity and promised to team up with bridge protocols to keep the bleeding to a minimum. Plus, they're rolling out a bounty program and a detailed postmortem report. You know, to get to the bottom of this mess.

The Hunt Is On: Top Security Firms and Networks Join Forces

But wait, there's more! The KiloEx crew is now in cahoots with blockchain security heavyweights like Seal-911, SlowMist, and Sherlock, not to mention networks like BNB Chain and Manta Network. They're all on a mission to chase down those stolen funds, which were last seen scooting away via zkBridge and Meson. It's like a high-stakes game of cat and mouse!

PeckShield Drops the Numbers: $7.5M Stolen Across Multiple Chains

Blockchain security gurus at PeckShield crunched the numbers and put the total loss at around $7.5 million. That's $3.3 million on Base, $3.1 million on opBNB, and a cool $1 million on BSC. And how did they pull it off? By messing with the price oracle to open a position with ETH/USD at 100, then slamming it shut at a whopping 10,000. Talk about a quick million-dollar flip!

KiloEx's Tweet: The Hack That Shook the Platform

And just in case you missed it, @KiloEx_perp tweeted about the hack, confirming the $7.5 million loss and the pause of the platform. They're diving deep into one exploit transaction that smells like a price oracle issue. It's like the hacker knew exactly where to hit!

DeFi Hacks on the Rise: A Record-Breaking Quarter

But here's the kicker: the KiloEx exploit is just the latest in a string of DeFi hacks that are making headlines. According to Immunefi's Q1 2025 report, $1.64 billion was swiped in the first quarter alone, making it the worst ever for crypto exploits. Centralized finance platforms took a $1.5 billion hit in just two attacks, while DeFi protocols bled $106.8 million across 38 incidents. It's a wild, wild world out there in crypto land!