A known decentralized derivative trading platform, KiloEx, has halted its services after the ecosystem was badly hit by a security breach, which resulted in losses of around $7.5 million.

The incident of hack was reported 1st by Cyver on April 14, and in the post about the incident, the blockchain analysis firm said, “ Our system has detected multiple suspicious transactions involving KiloEx_perp across several chains.” 

The post further reads, “ An address funded via TornadoCash has executed a series of exploitative transactions on the $BNB, $Base, and $Taiko chains, accumulating approximately $7M in total.” 

KiloEx investing with blockchain Networks & Cyber experts 

Yet, an incident of hacking was confirmed by KiloEx through an X post on April 15, 2025, which notes, “ Dear KiloEx Community, We regret to inform you that the KiloEx Vault has been exploited.” 

“The attacker’s wallet address is:  0x00fac92881556a90fdb19eae9f23640b95b4bcbd, We urge all partner protocols and platforms to immediately remove this address to prevent further malicious activity,” the post reads.

In the most recent post, KiloEx said that after investigation, it found that the asset funds are currently routed through zkbBridge and Meson, and after identification, it is working with both protocols to avoid additional losses by restricting these transactions. 

According to data from KiloEx(dot)io, the total volume is $38.0 billion, and the intraday volume is $106.0 million, with an open interest of $6.0 million.

It is worth noting that a bounty program has also been launched to recover the stolen funds. KiloEx has been working actively to avoid severe losses and recover the post-funds. 

Hackers continued to trouble crypto-based firms

In the year-to-date time frame, the crypto market lost more than $2 billion in losses; It was widely reported that in the entire Q1, 2025, more than $1.78 billion of the crypto assets went out of the market.

The Bybit hack was one of the most prominent hacks in 2025, resulting in losses of over $1.5 billion and affecting Ads Power, Phemex, and Moby. It has also been reported that crypto hacks grew 131% year over year.

With growing hacks and theft, there is a severe need for regulations and enforcement units, especially for cryptocurrencies and digital assets.

However, with the passing time, the demand for digital assets has grown to new heights and is constantly growing, and will further grow at a pace never before.

Crypto market price updates 

Until publishing, the crypto market capitalization was $2.07 trillion with a slight addition of 0.83%, and at the same time, the crypto fear and greed index was at 31, reflecting a fade in sentiments of the market.

Bitcoin is still below the mark of $90k, and currently, it is at $85,457 with an intraday addition of 1.08% and is up by 7.46% in the weekly time frame. 

According to data from CoinMarketCap, the intraday gainers list has been ruled by Fartcoin, Story, Kaspa, Vechain, Toncoin, Raydium, Algorand, and Hyperliquid.