DeFi platform KiloEx offers $750K bounty to hacker

Decentralized exchange (DEX) KiloEx has offered the hacker who exploited $7.5 million in crypto from its platform a 10% white hat bounty. 

On April 15, KiloEx posted an offer directed to the hacker who stole millions from the DEX. KiloEx said it had worked with law enforcement, cybersecurity agencies and exchanges to uncover information about the hacker’s activities. 

The DEX also shared wallet addresses linked to the hackers that the DeFi platform and other organizations are actively monitoring. KiloEx said they were prepared to freeze the stolen funds. However, the DEX offered the hacker $750,000 in exchange for returning 90% of the stolen assets. 

KiloEx said that it would treat the incident as a white hat exploit if the hacker returned the funds.

On April 14, cybersecurity companies reported that an exploiter looted the platform through a price oracle vulnerability. A report from PeckShield said that about $3.3 million in Base, $3.1 million opBNB and $1 million BSC tokens were taken. 

The blockchain security company said that the information used by a smart contract to determine price assets was manipulated, which led to the exploit. 

In response to the attack, the platform suspended its DEX. The platform also said the exploit had been contained. 

Related: Ethical hacker intercepts $2.6M in Morpho Labs exploit

The DEX added that it would drop the matter and publicly acknowledge that the incident is settled if the hacker agrees to return the funds. KiloEx wrote: 

The DEX informed the hacker to contact its email or send an onchain message if they accepted the offer. If the hacker doesn’t accept the offer, the DEX said it would escalate the matter with the relevant law enforcement and pursue the investigation with its cybersecurity partners. 

“Your identity and activities will be exposed to relevant authorities. We will pursue legal action relentlessly. The choice is yours. Act now to avoid irreversible consequences,” KiloEx wrote. 

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express