KiloEX, a decentralized exchange (DEX) supported by Binance, has announced the suspension of its operations after suffering a $7.5 million exploit. This incident is believed to involve manipulation of the DEX's price oracle, which is used to fetch external asset prices for smart contracts. Cybersecurity firm PeckShield indicated that the attackers may have manipulated the price of Ethereum from $100 to $10,000, resulting in extensive financial losses across various tokens. In response to the incident, KiloEX is collaborating with security analysts to trace the stolen funds and has urged users to block the attacker's wallet address to prevent further damage. The exchange has offered the hackers an opportunity to return 90% of the stolen assets in exchange for immunity from legal actions. However, if this offer is not accepted, KiloEX warned of potential legal repercussions and the disclosure of the attackers' identities to authorities. A formal report detailing the exploit will be released soon, although KiloEX has not yet provided a timeline for resuming operations.

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