A hacker disaster broke out at Taiwan's cryptocurrency quantitative trading team "Kronos Research". The company and its incubated exchange WooX once suspended all transactions. It is currently estimated that the stolen amount is as high as 26 million US dollars. This loss will be fully By Kronos.
Kronos is a cryptocurrency trading company and market maker headquartered in Taipei. It is composed of a team of Chicago trading market analysts and Wall Street traders. In 2018, it introduced the mainstream "quantitative trading" technology and business model of the American financial market to Taiwan. He once offered an annual salary of 5 million to recruit Taiwanese professionals.
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However, this so-called "top 5 cryptocurrency quantitative trading team in the world" dropped a shock bomb around 7 o'clock yesterday morning, revealing that some API keys were used without authorization in the early morning of that day, and the investigation was suspended. All transactions, emphasizing that the amount of losses represents a small proportion of the company's assets.
In the interest of transparencyAround 4 hours ago, we experienced unauthorized access of some of our API keys. We paused all trading while we conduct an investigation. Potential losses are not a significant portion of our equity and we aim to resume trading as soon as possible.
— Kronos Research (@ResearchKronos) November 18, 2023
According to Kronos’ update last night (19th), it has been determined that as much as $26 million in cryptocurrency has been stolen. Although the amount is huge, Kronos is in good operating condition and all losses will be fully borne by the company. No partners will will be affected.
Kronos pointed out that this is the first time the company has suspended trading since 2018 and is currently using all resources to resume services as soon as possible for the exchanges and token projects it provides liquidity.
On the other hand, since Kronos mainly provides liquidity for the spot market and perpetual futures market (40%) of cryptocurrency exchange Woo With the help of the dealer, trading resumed soon after, and customer funds were not affected.
Status update– First and foremost, all client assets are safe– TLDR our largest liquidity provider Kronos Research recently experienced a hack that caused them to pause all trading on WOO X– Since Kronos Research is the primary liquidity provider for spot markets and around… https://t.co/sDR8QHvmZC
— WOO X (@_WOO_X) November 18, 2023
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"Kronos, the "Light of Taiwan's Currency Circle", was hacked: US$26 million was stolen and full losses were borne. This article was first published on "Blocker".
