KiloEx, a decentralized perpetual exchange, sheds light on the $7 million exploit involving a critical smart contract vulnerability. The issue was rooted in the TrustedForwarder contract’s failure to override its execute method, making it permissionless, which enabled manipulation of trading positions. A detailed analysis by Cyvers Alerts helped identify suspicious cross-chain activities on Base, Taiko, and BNB Chain. Though stolen assets were systematically returned following negotiations, the incident has prompted KiloEx to tighten security measures.
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