Kronos Research, a Taipei-based market maker, trading firm, and venture capital fund, witnessed the withdrawal of significant amounts of crypto assets due to a breach of its security system. Kronos Breach: Investigation Underway On Sunday, November 19, Kronos Research disclosed – via a post on X (formerly Twitter) – a security incident that involved unauthorized access to its API keys. Consequently, the company lost a significant amount of crypto funds and has halted all trading operations in a bid to launch a full investigation into the incident. A map of funds outflow by on-chain sleuth ZachXBT summed Kronos’ losses to over $25 million in Ether. In a follow-up post on X, the company also confirmed that the losses are about $26 million in crypto assets. Funds outflow from Kronos Wallet | Source: X/ZachXBT Related Reading: Yearn Finance Tumbles: Rug Pull Rumors Swirl As Token Takes A 45% Hit In its initial announcement, Kronos revealed that the potential losses are not a significant portion of its equity. Meanwhile, the trading firm said in its latest update that all losses will be covered interna ..
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