The KiloEX team announced the shutdown as they scrambled to track down the stolen funds, leaving users and investors on edge.
This KiloEX incident reminds us that in the Wild West of Web3, even promising platforms can get caught with their pants down.
KiloEX Rallies Partners to Track Hack and Recover Funds
The KiloEX team is pulling out all the stops, collaborating with heavy hitters like BNB Chain, Manta Network, and top cybersecurity firms Seal-911, SlowMist, and Sherlock to investigate the breach and recover the stolen assets. According to their latest update, the pilfered funds are being funneled through zkBridge and Meson, two protocols now under scrutiny. The team is working around the clock to engage with both platforms, aiming to halt the transactions and prevent further losses.
Dear KiloEx Community,
We regret to inform you that the KiloEx Vault has been exploited. The attackerâs wallet address is:
0x00fac92881556a90fdb19eae9f23640b95b4bcbd
We urge all partner protocols and platforms toâŚ
Theyâve also shared the attackerâs wallet addressesâ0x00FaC92881556A90FdB19Ae9F223640B95B4bcBD on BNB Chain, Base, Taiko, and BSquared, and 0x551f3110f12c763D1611d5A63B5F015d1c1a954C on Mantaâurging the Web3 community to help establish immediate contact with zkBridge and Meson to support the recovery efforts.
KiloEX Rallies Partners to Track Hack and Recover Funds
âOur joint efforts span multiple ecosystems, aiming to mitigate further impact and maximize asset recovery,â the KiloEX team stated, expressing gratitude for the communityâs support during this critical time. Theyâve promised to keep users in the loop with timely updates as the situation unfolds, but for now, the platform remains on lockdownâa tough pill to swallow for its users.
The vulnerability in the contract has been identified and is expected to be fixed soon. https://t.co/xIV7UT4w1I
This exploit underscores the growing risks in the decentralized finance (DeFi) space, where hackers are constantly on the prowl. KiloEXâs swift response and collaboration with industry leaders show theyâre not throwing in the towel, but the incident raises questions about the security of cross-chain protocols like zkBridge and Meson. As the investigation continues, the broader Web3 community is rallying to assist, hoping to turn the tide on this costly breach.
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