KiloEx is a decentralized perpetual exchange platform that offers cryptocurrency trading services with a focus on low fees and high liquidity. It operates on the Solana blockchain, providing users with a fast and efficient trading experience. ^{[2] [3]}

Overview

KiloEx is a decentralized perpetual exchange built on the Solana blockchain. The platform is designed to provide traders with access to cryptocurrency perpetual futures contracts with minimal fees and high liquidity. KiloEx leverages Solana's high-performance blockchain infrastructure to offer users fast transaction processing and a seamless trading experience. ^[1]

The exchange operates with a focus on decentralization, allowing users to maintain control of their assets while trading. Unlike centralized exchanges that require users to deposit funds into platform-controlled wallets, KiloEx enables trading directly from users' own wallets, enhancing security and reducing counterparty risk. The platform supports various trading pairs and offers leverage options for traders seeking to amplify their potential returns. ^[2]

Technology

KiloEx's technological foundation is built on the Solana blockchain, which provides several advantages for a trading platform:

Solana Integration

The Solana blockchain serves as the underlying infrastructure for KiloEx, offering several benefits:

• Transaction speeds of up to 65,000 transactions per second
• Low transaction costs compared to Ethereum-based alternatives
• Minimal environmental impact due to Solana's proof-of-stake consensus mechanism
• Scalability to accommodate growing user bases without performance degradation ^[1]

Smart Contract Architecture

KiloEx utilizes smart contracts to facilitate trading operations, including:

• Order matching and execution
• Liquidation mechanisms for leveraged positions
• Collateral management
• Price oracle integration for accurate market data ^[2]

KiloEx Decentralized Exchange Hacked

On April 14, 2025, KiloEx became the target of a sophisticated exploit that impacted several networks, including BNB Smart Chain, Base, and Taiko.

A report from PeckShield said that about $3.3 million in Base, $3.1 million opBNB and $1 million BSC tokens were taken.

The blockchain security company said that the information used by a smart contract to determine price assets was manipulated, which led to the exploit.

In response to the attack, the platform suspended its DEX. The platform also said the exploit had been contained.

On April 15, 2025, KiloEx posted an offer directed to the hacker who stole millions from the DEX. KiloEx said it had worked with law enforcement, cybersecurity agencies and exchanges to uncover information about the hacker’s activities.

The DEX also shared wallet addresses linked to the hackers that the DeFi platform and other organizations are actively monitoring. KiloEx said they were prepared to freeze the stolen funds.

However, the DEX offered the hacker $750,000 in exchange for returning 90% of the stolen assets.

KiloEx said that it would treat the incident as a white hat exploit if the hacker returned the funds.

“We will tweet about this resolution, acknowledging your cooperation and closing the case without further action.”

The DEX informed the hacker to contact its email or send an onchain message if they accepted the offer. If the hacker doesn’t accept the offer, the DEX said it would escalate the matter with the relevant law enforcement and pursue the investigation with its cybersecurity partners.

“Your identity and activities will be exposed to relevant authorities. We will pursue legal action relentlessly. The choice is yours. Act now to avoid irreversible consequences,” KiloEx wrote.

KiloEx Reports $7m Hack to Hong Kong Police

On April 17, 2025, via a detailed post on X, KiloEx said it is working with the police’s Criminal Division and Cybercrime Unit, as well as blockchain security firm SlowMist, to investigate the incident and track the hacker’s identity. ^[6]

So far, no response has been received from the hacker after the platform initiated communication offering a deal.

To reassure users, KiloEx stated that it is raising funds for compensation and will gradually restore the Vault function after finalizing the plan.

“We are currently raising funds and working on a compensation plan to ensure KiloEx users can quickly restore liquidity,” the exchange posted.

“The Vault function will gradually be restored after the compensation plan is finalized. Users’ funds in the Vault remain secure.”

KiloEx Hacker Returns Entire $7.5M

On April 18, 2025, the hacker behind the $7.5 million exploit of decentralized exchange KiloEx has returned the entire sum just four days after the initial attack. ^[8]

The return came after the platform issued a stern ultimatum to the attacker via X presenting a choice: return 90% of the funds within 72 hours and receive a 10% white-hat bounty, or face relentless legal and forensic pursuit.

The DEX revealed that it had already identified blockchain addresses linked to the attacker and placed them under constant surveillance.

These could be frozen at any moment, KiloEx warned, as they were actively working with exchanges and security partners.

The hacker was offered safe passage if they complied, and KiloEx pledged not to pursue further legal action.

Should they fail to respond, the matter would escalate into a full-blown criminal case, backed by law enforcement, cybersecurity firms, and international exchange networks.

By April 18, the full $7.5 million had been returned. KiloEx issued a statement expressing relief and gratitude, confirming that the matter was resolved. ^[8]

Dear Community,

We are pleased to announce that we have successful recovery of all stolen funds related to the recent security incident. This outcome underscores our commitment to protecting user assets and fostering a secure ecosystem. ^[9]