"$750K Bounty Offered to Hacker by DeFi Platform KiloEx"

DeFi Platform KiloEx Offers Hacker $750K Bounty

Decentralized exchange (DEX) KiloEx has taken an unconventional approach in dealing with a recent cyber attack that saw a hacker exploit $7.5 million in cryptocurrency from its platform. In a surprising move, KiloEx has offered the hacker a 10% white hat bounty, amounting to $750,000, in exchange for returning 90% of the stolen assets.

The incident, which occurred on April 14, was a result of a price oracle vulnerability that allowed the hacker to access and steal a significant amount of crypto assets, including Base, opBNB, and BSC tokens. The exploit was promptly reported by cybersecurity firms, leading to the suspension of the DEX as a precautionary measure.

KiloEx's Response to the Hack

KiloEx wasted no time in addressing the situation, collaborating with law enforcement, cybersecurity agencies, and exchanges to identify and track the hacker's activities. The DEX also divulged wallet addresses associated with the hacker, which are currently being monitored by multiple organizations.

In a bold move, KiloEx made a public offer to the hacker, promising to treat the incident as a white hat exploit if the stolen funds were returned. The platform extended an olive branch by proposing the $750,000 bounty, emphasizing the opportunity for the hacker to rectify the situation and avoid legal repercussions.

Legal Ramifications

Despite the incentive provided by KiloEx, the platform made it clear that they would pursue legal action if the hacker did not accept the terms of the offer. The DEX warned the hacker that failure to cooperate would result in exposure to law enforcement and further investigation by cybersecurity partners.

KiloEx outlined the consequences of refusing to return the stolen funds, emphasizing the severity of the situation and the irreversible repercussions that could follow. The platform urged the hacker to make a decision promptly to avoid escalating the matter further.

Conclusion

The unique approach taken by KiloEx in response to the cyber attack showcases a willingness to engage with hackers in a constructive manner, offering a path to resolution that benefits both parties. By providing a substantial bounty and emphasizing the potential for a positive outcome, KiloEx has demonstrated a commitment to addressing security breaches in a proactive and innovative way.

As the situation unfolds, the cryptocurrency community will be watching closely to see how the hacker responds to KiloEx's offer and whether a resolution can be reached amicably. In the meantime, KiloEx remains vigilant in its efforts to safeguard its platform and users from future cyber threats.