DeFi platform KiloEx to compensate users impacted by $7.5M hack

KiloEx will compensate users hurt by a $7.5 million exploit, pledging full refunds to traders and bonus rewards for stakers after the price oracle attack.

Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.

In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference. 

KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may then impact the compensation amount.

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