Kronos Research Suffers $25M Hack

posted  19 Nov 2023
Photo - Kronos Research Suffers $25M Hack
Taipei-based Kronos Research, a prominent trading firm and market maker, faced a significant security breach. Hackers accessed the firm's API keys, leading to an estimated loss of $25 million in ether, as reported by blockchain researcher ZachXBT.
This incident prompted Kronos to halt all trading activities, impacting liquidity on Woo X exchange, where Kronos is a key market maker.
While trading and withdrawals have resumed on Woo X, Kronos is working to restart its operations soon. The firm stated that the loss doesn't represent a major part of their equity.