Wow, impressive work by Binance...👏👏

90% of Stolen Crypto Recovered Through Rapid Response and Cross-Chain CoordinationBinance announced today that it successfully helped trace, block, and recover approximately $6.1 million worth of crypto assets following the recent exploit targeting decentralized exchange platform KiloEx.The quick response involved a coordinated effort across the Binance security teams, BNB Chain ecosystem partners, cross-chain bridge providers, and law enforcement agencies, resulting in the recovery of about 90% of the stolen assets.Overview of the KiloEx ExploitOn April 15, 2025, KiloEx suffered a sophisticated price manipulation attack exploiting vulnerabilities in its price oracle system.The attacker manipulated price feeds using a wallet funded via Tornado Cash, an anonymizing service.By exploiting cross-chain structures across Base, BNB Chain, and Taiko, the hacker withdrew artificially inflated profits, draining an estimated $8.44 million.Binance's Response TimelineWithin 30 minutes of the incident being flagged by the community, Binance security teams activated an emergency protocol.The team immediately traced suspicious wallet addresses and blacklisted them internally to block any further fund movements.Cross-chain bridge providers were contacted to restrict hacker activity across multiple networks.On-chain forensic analysis combined open-source and proprietary tools to track and build a behavioral profile of the attacker.Recovery Efforts and ResolutionWith strong evidence gathered, Binance and KiloEx initiated targeted communications with the attacker via on-chain messages, simultaneously filing a report with law enforcement.After 24 hours of negotiation efforts, the attacker agreed to return 90% of the stolen funds in exchange for a 10% white-hat bounty and a cease of further legal action.Binance highlighted that ecosystem-wide collaboration, swift technical analysis, and law enforcement pressure were crucial to this successful recovery.Broader ImplicationsThe KiloEx incident underscores the growing sophistication of cross-chain exploits but also demonstrates the maturing resilience of the crypto ecosystem through real-time collaboration between centralized exchanges, DeFi platforms, and regulatory authorities.Binance reaffirmed its commitment to protecting users and maintaining trust across Web3 platforms by responding swiftly to security incidents.