Kronos Research halts trading amid $25M API key hack investigation

Cointelegraph
Cointelegraph

20 Nov 2023 7:44 AM

“Potential losses are not a significant portion of our equity and we aim to resume trading as soon as possible,” said Kronos Research....

  • A hacker stole $25 million from quantitative trading firm Kronos Research by accessing its compromised API keys.
  • Kronos Research discovered the unauthorized access and halted its trading services on the platform.
  • The hacker made six transactions totaling 12,800 ETH from a Kronos Research account to their own addresses.
  • Kronos Research is conducting internal investigations to track down the culprit and expects a positive outcome.
  • The rising number of crypto hacks highlights the importance of conducting extensive research on investment projects.
  • Q3 2023 was the most damaging quarter for crypto, with over $700 million in digital assets lost to security incidents.

The article highlights a significant security breach at Kronos Research, resulting in a substantial loss of funds. However, the firm remains optimistic about resolving the issue. The rising number of crypto hacks raises concerns about the security of digital assets.

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You May Ask

How much money did the hacker steal from Kronos Research?What actions did Kronos Research take after discovering the unauthorized access?How many transactions did the hacker make, and what was the total value?What is the firm's expectation regarding the outcome of the internal investigations?What did CertiK's report reveal about the most damaging quarter for crypto and the techniques used in hacking?

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