A hacker has exploited decentralised exchange KiloEX, draining approximately US$7.5 million by manipulating its price oracle mechanism. The breach led to an immediate suspension of the platform and sparked a cross-industry investigation involving cybersecurity firms and blockchain networks.

The vulnerability centred on KiloEX's price feed system, which allowed the attacker to manipulate the ETH/USD feed by inputting an artificial entry price of 100 and closing it at 10,000.

According to cybersecurity firm PeckShield, this simple flaw enabled the attacker to steal millions across multiple chains, including$3.3 million from Base,$3.1 million from opBNB, and$1 million from BNB Smart Chain.

KiloEX is working with various security experts and blockchain networks such as BNB Chain and Manta Network to recover the stolen assets.

Funds are reportedly being routed through cross-chain protocols like zkBridge and Meson. Co-founder of Fuzzland, Chaofan Shou, described the breach as stemming from a 'very simple vulnerability' in oracle verification, where only intermediaries were validated rather than the original transaction sender.

The attack caused KiloEX's token price to plummet by over 29% and came just one day after the platform announced a strategic partnership with DWF Labs, aimed at fuelling growth. KiloEX has promised a full incident report and a bounty programme to encourage asset recovery.

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