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.
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.