KiloEx, a decentralized perpetual trading platform on BNB Chain, has suffered a major hack resulting in $7 million in losses. The platform has temporarily halted operations to investigate and mitigate the incident.
Overview of the Attack
In the early hours of April 15, 2025, KiloEx — a decentralized perpetual exchange (Perpetual DEX) operating on the BNB Chain — became the target of a significant cyberattack.
According to data from blockchain security firm Cyvers, the attacker executed suspicious transactions across BNB, Base, and Taiko chains using a wallet funded through Tornado Cash, a tool commonly used to obfuscate on-chain activity.
Cause and Damage Assessment
Initial investigations revealed the breach stemmed from a vulnerability in KiloEx's oracle price feed mechanism — a key component responsible for delivering asset price data to the platform.
The attacker exploited this weakness to manipulate trades, resulting in approximately $7 million in stolen funds from the protocol.
KiloEx’s Response
Shortly after the incident, the KiloEx team issued an emergency statement on X (formerly Twitter), confirming the vulnerability had been isolated and all platform operations were suspended to prevent further losses.
They also urged their partners and relevant protocols to blacklist the attacker's wallet address to block further illicit transactions or withdrawals.
Impact on KILO Token
Following the breach, KILO token prices plummeted by approximately 30%, dropping its market cap from $11 million to $7.5 million.