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 <p class="is-style-lead">Taiwan-based trading firm Kronos Research has initiated talks with a <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> who stole $26 million from the firm’s treasury earlier this month.</p>
 <p>Taking to Etherscan, Kronos is offering the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> a bounty of 10% after $25 million was taken in a Nov. 18 breach.</p>
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   <img decoding="async" width="1024" height="277" src="https://cdn.thebittimes.com/images/2023/11/28/713bc91e8d410c30608233a1c62e331b.webp" alt="Kronos Research negotiates with hacker over $26m theft - 1"> 
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   Kronos offers 10% bounty for return of stolen crypto | Source: Etherscan
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 <p>The attack took place after an unauthorized party accessed Koronos’s API keys.</p>
 <p>Onchain analysts ZachXBT and Lookonchain confirmed the theft noting that the majority of the $25 million stolen assets were in stablecoins.</p>
 <p>Kronos later commented, “we can confirm that the losses are about $26 million in crypto assets, and despite it being a sizable amount, Kronos remains in good standing. All losses will be covered internally, and no partners will be affected.”</p>
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 </div>
 <h2 class="wp-block-heading" id="hackers-continue-to-plague-the-crypto-space">Hackers continue to plague the crypto space</h2>
 <p>Data from DefiLlama indicates that in 2023 cybercriminals inflicted losses exceeding $1.2 billion on crypto companies and decentralized finance (DeFi) protocols through 81 separate hacks.</p>
 <p>Blockchain security firm Certik attribute these and other incidents to a variety of causes including protocol exploits, exit scams, private key compromises and Oracle manipulation.</p>
 <p>One of the most notable incidents this year involved the Mixin Network in Sept., where <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a>s managed to extract $200 million in what was one of the year’s largest exploits.</p>
 <p>Another significant breach occurred at Stake.com, with losses amounting to $41.3 million, ranking it among the top 10 hacks of 2023.</p>
 <p>In a similar situation to Kronos, Curve Finance offered a 10% bounty this past August for the return of $52 million in hijacked crypto, which, it should be noted, was also negotiated through transaction signing.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> responsible for the Curve Finance <a rel="noopener noreferrer nofollow" title="theft" href="https://thebittimes.com/tag/theft.html">theft</a> did not comply with the deadline set for returning the misappropriated assets. Consequently, the affected parties decided to offer a public bounty. They announced a reward equivalent to 10% of the unrecovered funds, $1.85 million. That bounty — which is still available — will be granted to anyone who can successfully identify the exploiter and help lead to their arrest.</p>
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   <img loading="lazy" decoding="async" width="1024" height="552" src="https://cdn.thebittimes.com/images/2023/11/28/8ea8b39012b6f7b0f121044bbbf0263a.webp" alt="Kronos Research negotiates with hacker over $26m theft - 2"> 
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   Monthly sum of crypto losses due to hacks in 2023 | Source: DefiLlama
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 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> November scores exploiters $290m over 5 major crypto hacks
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kronos-research-negotiates-with-hacker-over-26m-theft-tbt71863.html">https://thebittimes.com/kronos-research-negotiates-with-hacker-over-26m-theft-tbt71863.html</a></p>

Kronos Research negotiates with hacker over $26m theft

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