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Bitcoin

KiloEx to Compensate Users Impacted by $7M Attack

By admin
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KiloEx to Compensate Users Impacted by $7M Attack

KiloEX, the decentralized exchange (DEX) hit by a $7 million attack earlier this month, has revealed its resolution plans for affected users.

Users whose positions remained open during the platform suspension will be compensated for the difference on increased losses or decreased profits, KiloEX said on Thursday.

Compensation will only be calculated up to the point the platform resumes, so users are advised to close their positions as soon as possible thereafter.

The KiloEx attacker, using a wallet funded by crypto laundering service Tornado Cash, appeared to exploit a vulnerability in the platform’s price oracle system.

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