The cryptocurrency community faced another major blow on April 14, 2025, when Kiloex, a permanent trading platform powered by Yzi Labs (formerly Binance Labs), suffered a devastating hack. The exploit caused a loss of approximately $7.5 million to multiple blockchains, exposing the vulnerability in the platform’s Oracle system.
Hackers that exploit “unthinkable” flaws
Kiloex Vault Hack unfolded in the early hours of April 14, 2025, when Web3 security company COREDERS alerts detected a series of suspicious transactions in multiple blockchains including BNB Smart Chain, Base and Taiko.
🚨7mhacknerver🚨ir system has detected multiple suspicious transactions, involving @kiloex_perp Cross multiple chain stores.
Through the funded address @tornadocash A series of exploitation transactions have been executed $ bnb, , , , , $ baseand $ taiko Chain Stores – Accumulated about $7 million… pic.twitter.com/od4utssrxs
– 🚨Cyvers Alerts🚨 (@CyversAlerts) April 14, 2025
The attacker’s wallet funded by Tornado cash leverages a key flaw in Kiloex’s Oracle system that is responsible for providing accurate asset price data for smart contracts. According to Cyers, the vulnerability stems from an access control issue that allows hackers to manipulate asset prices, especially ETH/USD pairs. The hacker opened a position at just $100 ETH/USD price and then closed the position for a high price of $10,000, with a staggering $3.12 million in a deal.
Peckshield estimated the total loss was $7.5 million, stealing $3.3 million from the base, $3.1 million from Opbnb and $1 million from BNB Smart Chain.
Example from hacker transactions – Source: basescan
Chaofan Shou, co-founder of On-Chain Analytics platform Fuzzland, explained that despite the need for a “trustworthy forwarder”, Oracle’s access verification mechanism has not verified the original transaction initiator. Therefore, the hacker can evaluate and change Oracle prices from smart contracts.
This negligence is likened to checking the identity of the deliveryman rather than the identity of the sender. Furthermore, it creates a serious exploitation opportunity, and many in the industry consider Kiloex’s caliber platform “unthinkable”.
Kiloex team’s quick response
Kiloex responded quickly to the attack, confirming that its vault tools had been damaged through the wallet address 0x00FAC92881556A90FDB19EE9F23640B95B95B4BCBD. The team immediately paused all platform operations to prevent further losses and urged ecosystem partners to blacklist attackers’ wallets. To track stolen funds and mitigate losses, Kiloex works with BNB chains, Manta Network, and leading security companies such as Seal-911, Slowmist and Sherlock.
🚨Update Kiloex Vault Exploit 🚨
We are actively working with the BNB chain, Manta Network and leading blockchain security partners including Seal-911, Slowmist and Sherlock to investigate the recent Kiloex Vault exploit and track stolen assets.
Our joints…
– Kiloex (@kiloex_perp) April 14, 2025
The team also revealed that hackers are using cross-chain tools such as Zkbridge and Meson to transfer stolen assets, complicating efforts to freeze funds. Kiloex approached these platforms to stop ongoing transactions and announced bounty programs to incentivize returns on stolen assets. In addition, the project is committed to publishing detailed reports to ensure transparency with the community, acknowledging the severity of the incident and its responsibility to resolve this issue.
Despite these efforts, attackers’ use of cross-chain tools poses a significant challenge to the recovery process, which makes the results uncertain.
$kg price and serious impact of investors
The consequences of Kiloex Hack are direct and serious, especially for the platform’s community and investors. Kiloex token, KilogramIts peak price was launched on March 27, 2025 at $0.153, down 31.9% in 24 hours after the hack, down to $0.035. This decline cuts the token’s market value from $11 million to $7.5 million, and it has accounted for nearly 78% of its value since its launch. The sharp decline reflects a significant loss of investor confidence as many question the platform’s security measures and long-term feasibility.
Source: TradingView
The wider Defi community also felt the ripple effect of the incident. Many users expressed frustration and concern, Calling hackers “wake call calls to defi projects to prioritize security”. The use of cross-chain tools by hackers has widened concerns about vulnerability in multi-chain architectures, as stolen funds are still difficult to track.
The vault’s hacker also echoed similar incidents in hyperliquidity, with the whale exploiting liquidation in March 2025, resulting in a profit of $6.2 million. Both events highlight the concerns in the Defi community about the security of vault mechanisms and the security of Oracle in the Decentralized Exchange (DEXS) (DEXS). Kiloex takes advantage of manipulating ETH/USD prices, while Hyproliquid’s whales take advantage of volatile jelly tokens, revealing how easy and wisely recognize the carapace to distort the asset’s value. These events underscore a wider fear: Without robust Oracle systems and stricter vault protocols, DEX remains vulnerable to complex attacks that could erode Defi’s trust in decentralized security.
Read more: Reviewing Price Manipulation in SuperFlow
in conclusion
This incident not only hurts Kiloex’s reputation, but also the security of the DEFI platform, especially those running across multiple blockchains. As a result, the incident may slow down adoption of similar protocols, and investors may exercise caution. The incident highlights the urgent need for improved security measures, especially in Oracle systems and cross-chain protocols, to protect users and restore confidence in decentralized financing.
