KiloEx Unveils Full Compensation Plan After April Exploit

Following the April 14 exploit that disrupted operations, KiloEx has revealed a compensation plan for impacted users. The plan covers three core groups: traders, Hybrid Vault stakers, and VIP users.

For traders who had active positions during the downtime, the exchange will compensate any increased losses or reduced gains. KiloEx urges users to close their positions promptly after trading resumes. Compensation will be calculated from the moment the platform goes live again.

Thanks to the full recovery of stolen funds, Hybrid Vault stakers face no loss of capital or yield. But KiloEx is going a step further — launching a 30-day Special Yield Boost Campaign.

The boost applies to eligible assets deposited before the platform restarts. Supported networks include opBNB, BNB Chain, Base, and Manta. Tokens supported are USDT and USDC. From April 24 to May 24, users can earn an extra 10% APY on top of regular returns. Bonuses will be paid in USDT.

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KiloEx is upgrading VIP levels for affected users. Any VIP account (except VIP7) captured in a snapshot taken at the exploit time receives an automatic +1 level boost. All VIP users, regardless of tier, also benefit from a 30-day protection period on their status.

By addressing each user tier with specific benefits, KiloEx aims to restore trust after the breach and reinforce user confidence moving forward.

Examples clarify the process:

A $100 unrealized loss that turns into $200 post-resume results in $100 compensation.
A $500 unrealized gain that drops to $300 earns $200 back.
All limit orders placed before the hack will be canceled automatically, while TP/SL orders will function as normal.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.