Key notes
- The Binance Exchange security team joined a few others to investigate and follow the $ 7.5 million fund.
- The striker has executed a series of transactions on the basis, the BNB channel and the Taiko networks that were followed.
- Kiloex gave the hacker a bonus of 10%, but the recovery of Binance canceled it.
Under the direction of CEO Richard Teng, Binance played an important role in recovering stolen piracy funds from kiloex.
The exchange managed to recover more than $ 6.1 million in cryptocurrencies after the decentralized Stock Exchange (DEX) underwent an attack which resulted in a loss of around 7.5 million dollars on various digital assets.
Binance inks collaboration to help kiloex
In an article addressed to the wider crypto community, Teng stressed Binance’s involvement in the response to the Hack Kiloex. He shared a link to a Binance article describing the role of exchange in the recovery of stolen funds. According to the position, the Binance security team acted quickly once the feat was detected and reported.
$ 6.1 million traced, blocked and widely recovered by @binance After the Kiloex feat!
90% of stolen assets are back thanks to the teamwork of the ecosystem and the police.
Learn how 👇
– Richard Teng (@_richardteng) May 1, 2025
This effort was supported by additional collaborations to investigate the incident. Compared to the total stolen amount, the part recovered by Binance represents approximately 90%. The exchange said that he could have blocked the pirate escape routes using his advanced safety infrastructure.
It should also be noted that Binance has added the portfolio addresses associated with its internal black list control list, which facilitates fund monitoring.
The decentralized besieged exchange had promised the pirate a bonus, a make -up strategy to recover the funds. As underlined, the premium will reward anyone who highlights the defects of the Kiloex safety infrastructure. In light of new developments in hacking, the protocol has created remuneration plans for its users, including traders, Hybrid Vault stakeholders and VIP users.
Payments only cover the losses suffered to the point where kiloex takes over, users were therefore invited to close their positions as soon as possible.
The sophisticated attack of kiloex occurred two weeks ago, leaving the trading platform with massive losses. The pirate exploited the Oracle Price mechanism of the platform to perpetrate this law. They exploited a flaw in the Oracle Price Oracle system of the platform to manipulate the prices of assets.
The striker has executed transactions on several channels, including the basic networks, the BNB chain and Taiko. In particular, the pirate kiloex used a portfolio financed by Tornado Cash, the crypto mixture tool that has been making the headlines for years.
Response kiloex to violation of $ 7.5 million
As Dex concerned with the safety of its users’ deposits, Kiloex used generosity of 10% after several aborted surveys. He threatened to “quickly freeze the stolen funds”, quoting that the team looked at the addresses related to the attack.
In Pirate:
Our investigation, supported by the police, the cybersecurity agencies and the protocols of exchanges and multiple bridges, revealed critical information on your activities.
We actively monitor your addresses (0x551f3110f12c763d161d5A63B5F015D1C1A954C,…
– kiloex (@kiloex_perp) April 15, 2025
In addition to Binance, the DEX platform has teamed up with the authorities and cybersecurity partners to solve the problem. However, he first had to suspend commercial activities immediately after the violation. Activities have now returned to normal in recent days.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
