In response to a recent security breach, KiloEx, a popular decentralized entity for crypto perpetual trading, has decided to temporarily halt its operations and conduct a comprehensive audit of its security infrastructure. The announcement, released on KiloEx’s official social media account, outlined a two-step plan for this audit, which is being conducted in partnership with SlowMist, a renowned blockchain security company.
KiloEx’s first step involves an initial permission audit. This audit is designed to thoroughly review the protocol permissions – the very area that was exploited in the recent security breach. Through this initial permission audit, KiloEx aims to identify and rectify any vulnerabilities that could potentially invite permission-related attacks. This immediate action is seen as a critical move in assuring the community that their concerns are being addressed promptly.
The second step in KiloEx’s plan is a complete audit by SlowMist, which is expected to take approximately 45 days. This comprehensive audit will assess every aspect of KiloEx’s security infrastructure to ensure all potential vulnerabilities are addressed before the platform resumes operations. This measure is seen as a necessary step to safeguard against any future security breaches and to bolster confidence and trust among KiloEx’s user base.
Following the security breach, KiloEx took swift action to recover the stolen funds in collaboration with leading platforms, including SlowMist. The recovery of all stolen funds was a significant victory for the platform and a testament to the effectiveness of the crypto community’s collective efforts. However, KiloEx recognizes that recovery is only the first step in addressing the issue. The planned audit represents a proactive and comprehensive approach to securing the platform and its user’s assets.
Once the full audit is completed and any identified vulnerabilities are addressed, KiloEx plans to officially relaunch its operations. This strategic move is designed to reassure users of the platform’s commitment to security and transparency.
The crypto community has largely appreciated KiloEx’s transparent response to the security breach and its commitment to strengthening its security infrastructure. As KiloEx prepares for its relaunch, the community is optimistic about the platform’s future, appreciating its commitment to ensuring a secure trading environment for its users. The upcoming audit and subsequent relaunch serve as a testament to KiloEx’s resilience and dedication to its user base, as it navigates through these challenging circumstances.
