Kronos Research Has Been Hacked for an Estimated $25 Million

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Last Updated on November 20, 2023 by Bitfinsider

Kronos Research, a Taipei-based trading, market-making, and venture capital firm, reported illegal access to its API keys on Saturday in a post on X, citing potential losses as “not a significant portion of our equity.”

In response to Kronos’ statement, blockchain researcher ZachXBT tracked recent quick outflows from a wallet totaling more than $25 million in ether, claiming that $25 million was stolen.

Following the occurrence, Kronos halted all trading, causing issues on Woo X, the exchange incubated by Kronos and on which Kronos serves as a primary market maker. Woo X said in a statement that customer funds are safe before declaring a temporary halt on some asset pairs due to the loss of liquidity caused by Kronos’ halt. Trading in spot and perpetual contracts, as well as withdrawals, have now resumed.

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