KiloEx Suffers $7.4 Million Hack, Promises User Compensation Plan

Decentralized perpetuals exchange KiloEx has reported a significant security breach to Hong Kong police and is actively working on a compensation plan for affected users. The hack, valued at $7.4 million, involves an exploit that occurred on April 15th due to a price oracle access control vulnerability. The incident allowed an attacker to manipulate ETH/USD pricing, resulting in a substantial profit in a single transaction.