DeFi platform KiloEx to compensate users impacted by $7.5M hack

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Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.

In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference. 

KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may…



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DeFi platform KiloEx to compensate users impacted by $7.5M hack


Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.

In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference. 

KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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