Decentralized exchange (DEX) KiloEx announced that it will compensate traders and stakers affected 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 then impact the compensation amount.
“Please close your position as soon as possible after the platform resumes. Compensation will be calculated based on the platform’s resume time,” KiloEx stated.
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