KiloEx Announces Complete Recovery of Stolen Funds

KiloEx, a prominent decentralized perpetual trading company, has announced a notable development in the case of stolen funds. As per KiloEx, it has effectively redeemed the entirety of its DeFi stolen funds, which were drained through a security breach recently. The platform took to social media to announce this development while also expressing gratitude for the parties involved in the recovery procedure.

KiloEx Effectively Redeems All of Drained Funds

In an X post, KiloEx announced the full recovery of funds stolen in a security breach. It categorized this development as clear evidence of its commitment to securing the consumer assets while promoting a protected ecosystem. The legal procedure for the official closure to the respective case is reportedly underway. In this respect, KiloEx is collaborating with its legal team, judicial authorities, and 3rd-party specialists. Particularly, it thanked an investigator going by “₿liteZer” and the blockchain security entity SlowMist for assisting with their comprehensive expertise.

Platform Promises 10% of Recovered Funds as Reward for Involved White Hat Hackers

The collaborative efforts of these parties have reportedly resulted in the complete resolution of the issue. As a result of this, KiloEx was able to recover the funds without leaving any victims. Now, it is fulfilling its promise to transparently and fairly resolve the matter. While adding to this the platform ensured the provision of the recovered amount’s ten percent to the involved white hat hackers. In this way, it intends to acknowledge their key contribution to enhancing security.

No Legal Action to Be Pursued Further

According to KiloEx , this event also points out its preference for the long-term partnership with the community of ethical hackers. Moreover, the platform has also assured the provision of updates concerning legal withdrawal procedure. Furthermore, as it clarified, KiloEx will not pursue any other legal action. The notable platforms for which KiloEx expressed appreciation in this recovery process include SlowMist, Binance, ₿liteZer, Manta Network, BNB Chain, and so on.