DeFi platform KiloEx to compensate users impacted by $7.5M hack
KiloEx will compensate traders and stakers affected by a $7.5 million exploit that led to a temporary shutdown of the platform. Traders with open positions during the suspension will receive full compensation for losses or reduced profits. KiloEx advises traders to close positions immediately upon resumption to ensure accurate compensation calculations. Stakers' principal and earnings remain unaffected, and an additional 10% annual percentage yield (APY) will be awarded to eligible stakers who had funds in the vault before the platform resumed operations. The hacker exploited a price oracle vulnerability, leading to the exploit. KiloEx initially offered a 10% bounty for the return of stolen funds and later withdrew legal action after the hacker returned the funds, receiving the bounty as a reward.
