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

Blockchain investigator ZachXBT acted on the announcement and discovered approximately $25 million in overall was siphoned away into six distinct crypto wallet addresses. According to the investigation, the six deals– worth 2,780 Ether (ETH), 2,540 ETH, 2,540 ETH, 2,636 ETH, 4.93 ETH and 2,507.52 ETH, respectively– were made from a Kronos Research account to various addresses owned by the hacker.Kronos Research hacker sends stolen $25 million to different addresses. Source: EtherscanWhile Kronos Research is indefinitely halting the trading services up until internal investigations find the culprit who stole over 12,800 ETH, the company anticipates a positive outcome:” Potential losses are not a considerable portion of our equity and we intend to resume trading as soon as possible.” Kronos Research did not instantly react to Cointelegraphs ask for comment.Related: Atomic Wallet asks to toss suit over $100M hack stating it has no United States ties The rising variety of crypto hacks warrants that financiers perform substantial research study on tasks they mean to invest in.Blockchain security firm CertiK recently exposed Q3 2023 as the most “damaging” quarter for crypto.Incident counts and amount lost in Web3 security events in Q3 2023. Source: CertiKPrivate essential exploits, exit scams and oracle adjustment were the most widespread strategies utilized for hacking crypto ecosystems. Over $700 million in digital properties was lost to different security incidents in Q3 2023, exceeding first-quarter losses of $320 million and second-quarter losses of $313 million.Magazine: Breaking into Liberland: Dodging guards with diplomats, inner-tubes and decoys

A hacker won $25 million from quantitative trading company Kronos Research after accessing its jeopardized API keys.On Nov. 19, Kronos Research revealed that an unapproved entity accessed some of its API keys. Consequently, the company stopped its trading services on the platform. No losses were reported at the time.In the interest of transparencyAround 4 hours ago, we experienced unauthorized access of some of our API secrets. We stopped briefly all trading while we perform an examination. Possible losses are not a significant part of our equity and we aim to resume trading as soon as possible.– Kronos Research (@ResearchKronos) November 18, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *