KiloEx Suffers $7M Hack Across BNB Chain, Base, and Taiko

KiloEx, a decentralized perpetual trading platform, has been hit by a multi-chain exploit resulting in approximately $7 million in losses.

Decentralized perpetual trading platform KiloEx has been hit by a multi-chain exploit resulting in approximately $7 million in losses, according to blockchain security firm Cyvers.

The hack affected operations across several blockchains, including BNB Chain, Base, and Taiko. According to the researchers, the attacker funded the malicious address through Tornado Cash before carrying out the attack.

Early investigations indicate that the exploit stemmed from access control vulnerabilities within KiloEx’s price oracle, enabling manipulation of core contract functions.

Following the breach, KiloEx immediately suspended platform operations and is now collaborating with major security and blockchain partners to trace the stolen funds and strengthen defenses. These partners include BNB Chain, Manta Network, Seal-911, SlowMist, and Sherlock.

“We are actively collaborating with leading blockchain security partners such as BNB Chain, Manta Network, Seal-911, SlowMist, and Sherlock to investigate the recent KiloEx Vault attack and trace the stolen assets,” the team confirmed in a statement.

The platform will also be launching a bounty program as part of its remediation efforts and plans to release a full incident report shortly.

KiloEx is a Token Generation Event (TGE) project on Binance Wallet and has received backing from YZi Labs. It is also listed on Binance Alpha, a platform showcasing high-potential projects.

While the protocol endeavors to recover from the setback, the incident serves as a stark reminder of the ongoing threat posed by blockchain exploits, especially as protocols expand their footprint to encompass multiple chains.