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The decentralized exchange KiloEx has offered a $750,000 reward to the hacker responsible for the recent $7.5 million security breach. This move is aimed at recovering a significant portion of the stolen assets and encouraging ethical behavior within the hacker community.
Key Takeaways
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KiloEx offers a 10% bounty to the hacker for returning 90% of the stolen funds.
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The platform has collaborated with law enforcement and cybersecurity agencies to track the hacker.
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If the hacker does not accept the offer, KiloEx plans to pursue legal action.
The Incident
On April 14, 2025, KiloEx fell victim to a significant exploit that resulted in the theft of $7.5 million in cryptocurrency. The breach was executed through a vulnerability in the platform's price oracle, which allowed the hacker to manipulate asset prices and siphon off funds. According to cybersecurity firm PeckShield, the stolen assets included:
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$3.3 million in Base tokens
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$3.1 million in opBNB tokens
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$1 million in BSC tokens
In response to the attack, KiloEx promptly suspended its decentralized exchange operations to contain the damage and assess the situation.
The Bounty Offer
In a bid to recover the stolen funds, KiloEx announced a unique offer to the hacker. The platform is willing to pay a 10% white hat bounty, amounting to $750,000, if the hacker returns 90% of the stolen assets. KiloEx stated:
"We will treat this incident as a white hat exploit if the hacker returns the funds."
The DEX has also shared wallet addresses associated with the hacker, which are being monitored by KiloEx and other organizations. This transparency aims to pressure the hacker into accepting the bounty offer.
Legal Consequences
KiloEx has made it clear that if the hacker does not accept the bounty, the platform will escalate the matter with law enforcement. They warned:
"Your identity and activities will be exposed to relevant authorities. We will pursue legal action relentlessly. The choice is yours. Act now to avoid irreversible consequences."
This statement underscores KiloEx's commitment to recovering the stolen funds and holding the hacker accountable.
Community Reactions
The KiloEx incident has sparked discussions within the cryptocurrency community about ethical hacking and the responsibilities of decentralized platforms. Many have praised KiloEx for its proactive approach in dealing with the situation, while others have raised concerns about the security of decentralized exchanges in general.
Conclusion
KiloEx's offer of a $750,000 bounty to the hacker represents a significant shift in how decentralized exchanges may handle security breaches in the future. By encouraging the hacker to return the stolen funds, KiloEx not only aims to recover its losses but also sets a precedent for ethical behavior in the hacking community. As the situation unfolds, all eyes will be on KiloEx to see if the hacker accepts the offer or if legal action will ensue.
Sources
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DeFi platform KiloEx offers $750K bounty to hacker, StartupNews.fyi.
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DeFi platform KiloEx offers $750K bounty to hacker, Cointelegraph.
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