Decentralized derivatives protocol KiloEx has suffered a major exploit across multiple blockchain networks, resulting in losses of approximately $7.5 million, according to on-chain security firm PeckShield. 

The protocol has been paused, and the team is now working with leading security and ecosystem partners to trace and recover the stolen assets.

PeckShield’s initial analysis attributes the breach to a price oracle manipulation that allowed the attacker to open and close a trading position using vastly skewed ETHUSD prices. One example transaction on the Base network shows the attacker entering a position at an ETHUSD price of $100, then immediately exiting it at $10,000, netting $3.12 million in a single transaction. The attacker’s wallet address, which has been actively bridging funds, is:
0x00faC92881556A90FdB19eAe9F23640B95B4bcBd‍

Multi-Chain Damage

The stolen funds span three major networks: $3.3 million on Base, $3.1 million on opBNB, and $1 million on BNB Smart Chain (BSC)

KiloEx confirmed the breach via an official statement, calling it a “security incident” and urging partner protocols and platforms to blacklist the attacker’s wallet.‍

Investigation Underway

The KiloEx team said it has contained the exploit and suspended platform activity. They are now collaborating with multiple blockchain security partners—including SlowMist, Seal-911, Sherlock, and ecosystems such as BNB Chain, Manta Network, and Meson—to track the stolen funds.

The attacker is reportedly using cross-chain bridges like zkBridge and Meson to transfer assets. KiloEx is urging the Web3 community and infrastructure providers to freeze or intercept these transactions wherever possible.‍

Bounty Program and Further Updates

KiloEx has announced plans to launch a bounty program and will release a full incident report in the coming days. The team emphasized transparency and expressed gratitude to community members and partners for their swift support.

This exploit marks another stark reminder of the ongoing vulnerabilities in DeFi protocols—particularly those tied to price oracles—and underscores the importance of rapid response and cross-ecosystem collaboration in combating malicious actors.