Kiloex offers hackers a 10% reward to return stolen funds and gives them a 72-hour deadline

Decentralized Crypto Exchange Kiloex says it is tracking hackers’ wallets and is ready to escalate the case if funds are not returned.

Targeted in a cross-chain attack, Kiloex offers a contract to return the stolen funds by hackers, threatening further action if the funds are not returned. The protocol, supported by YZI Labs (formerly known as Binance Labs), was misused early on Monday for around $7.4 million.

Kiloex has confirmed a vulnerability in the price Oracle system as the underlying cause and has confirmed a violation. The platform then suspended its activities and began working with blockchain security companies along with networks such as the BNB Chain and Manta Network. Kiloex also called for protocols and platforms to blacklist attacker wallets.

Here, to solve the problem, Killox made a direct proposal to the hackers. In an X post on Tuesday, April 15th, the Kiloex team said they were tracking the hacker’s wallet address and “ready to quickly freeze stolen funds.” The platform also gives hackers a 72-hour deadline to return 90% of the funds stolen, and offers a 10% prize money as a “White Hat Bounty” for the hacker’s cooperation.

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If hackers fail to comply, Kiloex warned that “escalates investigations between law enforcement and cybersecurity partners,” adding that the hacker’s identity and activities will be “exposed to relevant authorities.”

As previously reported by Crypto.News, the exploits show an increasing trend in attacks in the decentralized financial sector, reportedly stolen in the first quarter alone, indicating a record-breaking record of crypto exploits.

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