KiloEX, a Decentralized Crypto Exchange, Hacked for $7.5 Million — Shuts Down to Find the Thieves

Blockchain , Tuesday, 15 April 2025

Posted by Rima Dwi Astuti

KiloEX Stops Operations After $7.5 Million Hack

Decentralized crypto exchange KiloEX has paused all operations after losing $7.5 million in a hack. The team confirmed the incident on April 14, 2025, and has started an urgent investigation with help from security experts and blockchain partners.

In a statement on social media platform X, KiloEX said the exploit had been contained, and the team is now looking into how it happened. They also said they're working with security partners to track the stolen funds.

Working with Security and Blockchain Partners

To help with the investigation, KiloEX is working with BNB Chain, Manta Network, and security firms like Seal-911, SlowMist, and Sherlock. They're trying to find and recover the lost money.

The stolen funds are believed to have been moved through platforms called zkBridge and Meson. KiloEX is now in contact with these platforms to try and stop further transfers.

The team is also preparing a detailed report on the incident and plans to launch a bounty program—offering rewards for anyone who can help return the funds or identify the hacker.

How the Hack Happened

Cybersecurity firm PeckShield believes the hacker took advantage of a price oracle issue. The attacker manipulated the ETH/USD price in a smart contract and made a $3.12 million profit in one transaction.

The stolen funds came from:

$3.3 million on Base
$3.1 million on opBNB
$1 million on Binance Smart Chain (BSC)

Another expert, Chaofan Shou of Fuzzland, also blamed a weakness in how KiloEX verified price data. He said it was a very simple vulnerability that could have been avoided.

KILO Token Price Drops

KiloEX’s own token, KILO, dropped 27% after the hack. It is now worth $0.03596, far below its all-time high of $0.1648 in late March, according to CoinGecko.

KiloEX, which launched in 2023 and is backed by Binance Labs, had just announced a new partnership with DWF Labs (a Dubai-based Web3 investor) a day before the hack. The timing has raised concerns about the exchange's future.

Crypto Hacks on the Rise

This hack adds to a growing list of crypto attacks in 2025. In the first three months of the year, over $1.63 billion in crypto has been stolen. Most of that came from the massive Bybit hack in February, which made up 92% of the total.