Decentralized exchange (DEX) Kiloex said that it would compensate for traders and Stakers hurts for $ 7.5 million exploit, which temporarily closed the platform at the beginning of April.
On April 24 announcementKiloex said that traders who had open items when the platform was suspended will receive full compensation if their losses increased or the profits dropped. The platform said that she would pay the difference.
Kiloex called on traders to immediately close the position when the platform resumes activity, because the delay can affect their profit and losses, which may affect the amount of compensation.
“Close your position as soon as possible after resuming the platform. The compensation will be calculated on the basis of the CV time of the platform,” said Kiloex.
Stakeers’ Book and earnings remain intact
In the case of hybrid Stakers from the Kiloex platform, he said that the stolen funds were fully restored to the vault. As a result, earnings and director Staker will remain unchanged. However, Kiloex said that it will still provide an additional 10% of the annual performance (APY) as a bonus for eligible stakeers.
The APY bonus will be awarded to users who had funds in the treasury before the platform resumes.
On April 15, Kiloex offered a 10% award to the hacker, which stole the funds from the platform. Dex said that the hacker can stop $ 750,000 as a white hat award if he decides to return 90% of the stolen funds. The platform threatened to reveal the identity of the hacker and take legal action if it does not apply.
Shortly afterwards, the security platforms meant transactions indicating that the Kiloex hacker returned stolen funds. On April 18, DEX said that he would withdraw all legal actions against the hacker and awarded them by a 10% white prize.
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Hacker Kiloex used the price susceptibility to oracle
On April 14, Kiloex suspended its platform after the exploit, which led to $ 7.5 million. The PECKSHIELD security company said that the attacker would probably utilize the price susceptibility to the oracle, which allowed them to inflate prices to get more profit than they should.
In the posthumous platform published by Kiloex confirmed that the attacker used the function without permission. Dex said that the attacker created a request that only authorized entities should be able to do.
Using this, the attacker opened the position at an “artificially low price”. After that, the position at a higher price was closed, providing illegal profit for the attacker.
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