Coinspeaker
KiloEx Plans Compensation for Users Hit by $7.5M Exploit

KiloEx, a decentralized exchange, recently suffered a breach resulting in a $7.5 million loss, which was partially recovered days later. Following the incident, the DEX announced plans to compensate users affected by both the exploit and the temporary suspension of trading activities.

In a Medium post published on April 24, KiloEx disclosed that it has created compensation plans for its users including traders, Hybrid Vault stakers, and VIP users. Users whose positions remained open during the platform suspension will be compensated for the difference in the increased losses or decreased profits, KiloEX said on Thursday.

Payouts will only cover losses incurred up to the point when KiloEx resumes trading, so users have been advised to close their positions as soon as possible.

Traders’ Compensation

KiloEx stated that traders’ limit orders will be canceled, while take-profit and stop-loss orders will be processed as usual. Open positions from before the suspension will remain active once the DEX resumes operations.

The exchange also announced on its X profile that it will be returning soon, following a thorough s...