KiiChain Loses $9.7 Million in Cosmos EVM Exploit
KiiChain suffered a significant loss due to an exploit that drained 148.3 million KII tokens. A portion of the funds was halted on-chain, while the remainder was transferred to BNB Chain.
An attacker exploited a vulnerability in KiiChain, resulting in the draining of 148.3 million KII tokens, valued at approximately $9.7 million based on pre-exploit prices. This incident is part of a broader trend of attacks utilizing the Cosmos EVM exploit class, which has also affected other platforms like MANTRA and TAC.
In response to the attack, KiiChain halted 54.4% of the on-chain assets to prevent further losses. However, the remaining tokens had already been moved to BNB Chain before the halt was implemented. This movement complicates the recovery of the funds, as they are now on a different blockchain.
The on-chain record indicates that a significant portion of the assets was successfully transferred to BNB Chain, which may affect the tracing and potential recovery efforts. The incident highlights the vulnerabilities present in cross-chain interactions and the risks associated with token transfers during exploit scenarios.