WOO X Crypto Exchange Reopens Trading with Enhanced Security After Market Maker Breach

Crypto News
Crypto News

20 Nov 2023 10:07 AM

Crypto trading platform WOO X has resumed operations after one of its market markers saw a significant amount of crypto assets withdrawn....

  • Crypto trading platform WOO X has resumed operations after a security breach.
  • Market maker Kronos Research experienced unauthorized access to API keys.
  • Approximately $25 million worth of crypto assets were siphoned into six unique wallet addresses.
  • Kronos Research paused trading but stated that the loss is not significant.
  • WOO X recouped shares and tokens acquired by failed hedge fund Three Arrows Capital.
  • The settlement involved repurchasing and burning 20 million tokens.
  • WOO X closed a $30 million Series A funding round with various investors.

The sentiment of the article is mostly negative due to the security breach and loss of funds. However, there is a positive aspect with WOO X recouping shares and tokens.

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You May Ask

What caused the temporary trading suspension on WOO X?How much money was stolen in the security breach?How did WOO X recover from the failed hedge fund investment?Who were the investors in WOO X's Series A funding round?What are the future plans for WOO X with the funding received?

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