A decentralized exchange, KiloEx, has fallen victim to a major security breach that resulted in the loss of approximately $7.5 million. This incident was announced publicly by KiloEx on April 15 during Asian trading hours. To mitigate further damage, the platform has suspended all operations. 💰 KiloEx is actively cooperating with security partners to apprehend the attacker and recover stolen funds. Their announcement included the hacker’s wallet address, urging other platforms to blacklisting it to prevent any further misuse. ⛓️ The stolen funds were taken from multiple blockchain networks: approximately $3.3 million from Base, $3.1 million from opBNB, and $1 million from BNB Smart Chain, according to security firm PeckShield. 📊 The breach is suspected to have been caused by manipulation of the price oracle system. This means the attacker may have deceived the platform’s pricing mechanism, potentially triggering trades at a fabricated price, resulting in significant profits for them. For example, one transaction reportedly yielded the hacker $3.12 million by exploiting an inflated ETH/USD price. 📈 KiloEx is working closely with Binance Chain, Manta Network, and various security teams including Seal-911, SlowMist, and Sherlock, to investigate the breach across different blockchain environments. Additionally, they are planning to launch a bounty program to incentivize individuals with pertinent information about the incident. 💰