On Protecting Agentic Systems' Intellectual Property via Watermarking

The evolution of Large Language Models (LLMs) into agentic systems that perform autonomous reasoning and tool use has created significant intellectual property (IP) value. We demonstrate that these systems are highly vulnerable to imitation attacks, where adversaries steal proprietary capabilities by training imitation models on victim outputs. Crucially, existing LLM watermarking techniques fail in this domain because real-world agentic systems often operate as grey boxes, concealing the internal reasoning traces required for verification. This paper presents AGENTWM, the first watermarking framework designed specifically for agentic models. AGENTWM exploits the semantic equivalence of action sequences, injecting watermarks by subtly biasing the distribution of functionally identical tool execution paths. This mechanism allows AGENTWM to embed verifiable signals directly into the visible action trajectory while remaining indistinguishable to users. We develop an automated pipeline to generate robust watermark schemes and a rigorous statistical hypothesis testing procedure for verification. Extensive evaluations across three complex domains demonstrate that AGENTWM achieves high detection accuracy with negligible impact on agent performance. Our results confirm that AGENTWM effectively protects agentic IP against adaptive adversaries, who cannot remove the watermarks without severely degrading the stolen model's utility.

Kimi K2.5: Visual Agentic Intelligence

We introduce Kimi K2.5, an open-source multimodal agentic model designed to advance general agentic intelligence. K2.5 emphasizes the joint optimization of text and vision so that two modalities enhance each other. This includes a series of techniques such as joint text-vision pre-training, zero-vision SFT, and joint text-vision reinforcement learning. Building on this multimodal foundation, K2.5 introduces Agent Swarm, a self-directed parallel agent orchestration framework that dynamically decomposes complex tasks into heterogeneous sub-problems and executes them concurrently. Extensive evaluations show that Kimi K2.5 achieves state-of-the-art results across various domains including coding, vision, reasoning, and agentic tasks. Agent Swarm also reduces latency by up to $4.5\times$ over single-agent baselines. We release the post-trained Kimi K2.5 model checkpoint to facilitate future research and real-world applications of agentic intelligence.

From Similarity to Vulnerability: Key Collision Attack on LLM Semantic Caching

Semantic caching has emerged as a pivotal technique for scaling LLM applications, widely adopted by major providers including AWS and Microsoft. By utilizing semantic embedding vectors as cache keys, this mechanism effectively minimizes latency and redundant computation for semantically similar queries. In this work, we conceptualize semantic cache keys as a form of fuzzy hashes. We demonstrate that the locality required to maximize cache hit rates fundamentally conflicts with the cryptographic avalanche effect necessary for collision resistance. Our conceptual analysis formalizes this inherent trade-off between performance (locality) and security (collision resilience), revealing that semantic caching is naturally vulnerable to key collision attacks. While prior research has focused on side-channel and privacy risks, we present the first systematic study of integrity risks arising from cache collisions. We introduce CacheAttack, an automated framework for launching black-box collision attacks. We evaluate CacheAttack in security-critical tasks and agentic workflows. It achieves a hit rate of 86\% in LLM response hijacking and can induce malicious behaviors in LLM agent, while preserving strong transferability across different embedding models. A case study on a financial agent further illustrates the real-world impact of these vulnerabilities. Finally, we discuss mitigation strategies.

CompressionAttack: Exploiting Prompt Compression as a New Attack Surface in LLM-Powered Agents

LLM-powered agents often use prompt compression to reduce inference costs, but this introduces a new security risk. Compression modules, which are optimized for efficiency rather than safety, can be manipulated by adversarial inputs, causing semantic drift and altering LLM behavior. This work identifies prompt compression as a novel attack surface and presents CompressionAttack, the first framework to exploit it. CompressionAttack includes two strategies: HardCom, which uses discrete adversarial edits for hard compression, and SoftCom, which performs latent-space perturbations for soft compression. Experiments on multiple LLMs show up to 80% attack success and 98% preference flips, while remaining highly stealthy and transferable. Case studies in VSCode Cline and Ollama confirm real-world impact, and current defenses prove ineffective, highlighting the need for stronger protections.