Kronos Research Hit With API Key Hack
The hacker then made of with an estimated $25.6M as Kronos immediately paused all trading....
- Cryptocurrency fintech firm Kronos Research confirmed a hack in which attackers gained access to the company's API keys and stole various crypto assets.
- The attackers made off with 24.6M USDT, 488.7 ETH, and 125,056 USDC, which were then swapped for a total of 13,010 ETH.
- Kronos paused all trading operations on its platform Woo X and assured customers that the stolen assets represent an insignificant portion of their equity.
- The firm is prioritizing the resumption of its trading platform and liquidity services.
- Q3 2023 has been the most damaging quarter for crypto asset losses, with over $700M lost to attacks, surpassing the combined losses of Q1 and Q2.
- Key exploits and oracle manipulation are common hacking techniques in the crypto space.
- Kronos is a leading platform for consistent liquidity, founded by Mark Pimentel and Jack Tan and currently led by Hank Huang and Vincent Liu.
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The sentiment of the article is negative due to the hack and the significant losses suffered in the crypto industry.
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