🎉 Gate xStocks Trading is Now Live! Spot, Futures, and Alpha Zone – All Open!
📝 Share your trading experience or screenshots on Gate Square to unlock $1,000 rewards!
🎁 5 top Square creators * $100 Futures Voucher
🎉 Share your post on X – Top 10 posts by views * extra $50
How to Participate:
1️⃣ Follow Gate_Square
2️⃣ Make an original post (at least 20 words) with #Gate xStocks Trading Share#
3️⃣ If you share on Twitter, submit post link here: https://www.gate.com/questionnaire/6854
Note: You may submit the form multiple times. More posts, higher chances to win!
📅 July 3, 7:00 – July 9,
KiloEx Announces Successful Containment of $7.5M Exploit on Decentralized Exchange
On a recent incident, KiloEx fell victim to an exploit where an attacker utilized a price oracle to steal a staggering $7.5 million in funds. The attack involved manipulating the price oracle to deceive the protocol into releasing the funds to the attacker’s address.
This breach highlights the importance of security measures in decentralized finance (DeFi) platforms. Price oracles play a crucial role in ensuring the accuracy of asset prices within a DeFi ecosystem. By compromising the integrity of a price oracle, attackers can manipulate transactions and steal substantial amounts of funds undetected.
The KiloEx incident serves as a warning to other DeFi platforms to bolster their security protocols and conduct regular audits to mitigate potential vulnerabilities. Implementing multi-factor authentication, encryption, and continuous monitoring can help prevent similar attacks in the future.
It’s essential for DeFi users to exercise caution and perform due diligence before engaging with any platform. Understanding the security measures in place, verifying the credibility of price oracles, and staying informed about potential risks are vital steps to safeguarding funds in the ever-evolving DeFi landscape.
Overall, the KiloEx exploit sheds light on the security challenges facing DeFi platforms and underscores the need for constant vigilance and proactive security measures to protect users’ assets from malicious actors.
The post KiloEx Announces Successful Containment of $7.5M Exploit on Decentralized Exchange appeared first on Crypto Breaking News.