Decentralized exchange KiloEx has reported that a recent exploit resulted in losses of $7.5 million but has been contained. The incident, suspected to stem from a price oracle issue where asset prices were manipulated, led to the suspension of the platform and an ongoing investigation. KiloEx is working with security partners and protocols like BNB Chain and Manta Network to trace the stolen funds. Cybersecurity firm PeckShield noted that the attacker manipulated the price oracle to create profitable positions unjustly. KiloEx's native token has seen a 27% drop following the news, maintaining a significant decline from its all-time high. The exchange, which launched in 2023 with backing from Binance Labs, recently partnered with DWF Labs for expansion efforts. A bounty program to track the exploit and a comprehensive report are expected to follow.

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