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