Taiwanese Crypto Trading Firm Suspends Operations Following $26 Million Hack

• Taipei-based trading platform, Kronos Research, experienced a cybersecurity breach resulting in a loss of $26 million in crypto assets.
• The breach was first reported by crypto on-chain sleuth ZachXBT, who confirmed the magnitude of the fund outflow.
• Kronos acknowledged the unauthorized access to its API keys and has halted all trading operations to conduct a full-scale investigation.
• The company aims to recover the losses quickly and assured users that all losses will be covered internally.
• The breach follows a recent attack on the crypto exchange platform Poloniex, resulting in losses over $100 million.
• Kronos uses the WOO platform and functions as the market maker for spot and perpetual futures market.
• WOO X, the crypto exchange affected by the breach, temporarily paused its operations but later resumed trading activities and withdrawals.
• The online crypto community raised questions about the relationship between Kronos and WOO, comparing it to FTX and Alameda Research.

The article discusses a cybersecurity breach that resulted in a significant loss of crypto assets for Kronos Research. The sentiment is negative as it highlights the breach and the losses incurred. However, there is a positive sentiment regarding Kronos' assurance to cover the losses internally and the resumption of trading activities by WOO X.