The hacker who exploited a decentralized exchange, KiloEx, for $7.5 million has unexpectedly returned all the money that was stolen, just four days after the hack.
KiloEx halted operations for a while after the exploit to evaluate the harm and get over the breach. The wallet address connected to the breach, however, returned almost $5.5 million worth of cryptocurrency, which was a noticeable event.
On April 18, the blockchain security company PeckShieldAlert announced that the money had been returned, pointing out that the transaction had taken place minutes before KiloEx’s formal declaration. Soon after, the exchange tweeted that the stolen assets had been fully recovered.
It was a shocking turn of events because KiloEx had earlier offered the hacker a $750,000 “whitehat” bounty (10% of the stolen sum ) in exchange for returning at least 90% of the stolen money. The offer seems to have played a significant role in the hacker’s choice to give the assets back.
KiloEx made it clear that it would not take any legal actions against the hacker, even though the exchange has regained its money.
“The legal process to formally close the case is now underway […]. With all affected funds fully restored (leaving victims), we are fulfilling our pledge to resolve this matter fairly and transparently.” said KilloEx.
Additionally, KiloEx said, “In adherence to our agreement, we will award 10% of the recovered amounts as a bounty to the white hat involved, recognizing their contribution to improving our platform’s security.”
To conduct a more thorough investigation and find the culprit, the website continues to work with cybersecurity and law enforcement agencies like Seal-911, Slowmist, and Sherlock. KiloEx has highlighted its continuous dedication to ensuring the safety of its consumers and the security of its platform.
