Decentralized exchange KiloEX has halted platform usage and is investigating a $7.5 million exploit. The team is working with security partners to trace stolen funds and analyze the attack vector. Collaborating with ecosystem partners, KiloEX aims to recover funds and prevent further losses. A bounty program and detailed report on the exploit are in progress. The exploit, suspected to be a price oracle issue, resulted in a significant loss. KiloEX's native token, KILO, has plummeted in value. Established in 2023 and backed by Binance Labs, KiloEX recently partnered with DWF Labs to expand its market presence. This incident follows the launch of a $250 million Liquid Fund by DWF Labs to support blockchain projects and Web3 technologies. The exchange is committed to addressing the exploit and enhancing security measures. Read more AI-generated news on: https://app.chaingpt.org/news