ZachXBT

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 While Kronos Research is indefinitely halting trading services until internal investigations track down the culprit who stole over 12,800 ETH, the firm said that potential losses are not a significant portion of its equity.
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 A hacker walked away with $25 million from quantitative <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> firm Kronos Research after accessing its compromised API keys.
 On Nov. 19, Kronos Research&nbsp;revealed that an unauthorized entity accessed some of its API keys. Subsequently, the firm stopped its <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> services on the platform. However, no losses were reported at the time.
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 In the interest of transparency Around 4 hours ago, we experienced unauthorized access of some of our API keys. We paused all <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> while we conduct an <a rel="noopener noreferrer nofollow" title="investigation" href="https://thebittimes.com/tag/investigation.html">investigation</a>. Potential losses are not a significant portion of our equity and we aim to resume <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> as soon as possible.— Kronos Research (@ResearchKronos) November 18, 2023
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 Blockchain investigator ZachXBT followed up on the announcement and found roughly $25 million in total was siphoned away into six unique crypto wallet addresses. According to the investigation, the six transactions — 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.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/20/e72d948031bd5a1249316befac223ef8.webp">
 <figcaption style="text-align: center;">Kronos Research hacker sends stolen $25 million to various addresses. Source: Etherscan
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 While Kronos Research is indefinitely halting the trading services until internal investigations track down the culprit who stole over 12,800 ETH, the firm expects a positive outcome:
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 “Potential losses are not a significant portion of our equity and we aim to resume trading as soon as possible.”
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 Kronos Research did not immediately respond to Cointelegraph’s request for comment.
 Related: Atomic Wallet asks to toss suit over $100M hack saying it has ‘no US ties’
 The rising number of crypto hacks warrants that <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ors conduct extensive research on projects they intend to <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a> in.
 Blockchain security firm CertiK recently revealed&nbsp;Q3 2023 as the most “damaging” quarter for crypto.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/20/a9d5f8e7fd492fd2856a1333d8590f82.webp">
 <figcaption style="text-align: center;">Incident counts and amount lost in Web3 security incidents in Q3 2023. Source: CertiK
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 Private key exploits, exit scams and oracle manipulation were the most prevalent techniques used for hacking crypto ecosystems. Over $700 million in digital assets was lost to various security incidents in Q3 2023, surpassing first-quarter losses of $320 million and second-quarter losses of $313 million.
 Magazine: Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kronos-research-halts-trading-amid-25m-api-key-hack-investigation-tbt70880.html">https://thebittimes.com/kronos-research-halts-trading-amid-25m-api-key-hack-investigation-tbt70880.html</a>

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

TheBitTimes

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