Kronos Research Halts Operations After $26M Security Breach

CS Web Team
By CS Web Team 1 Min Read

Kronos Research, a key player in crypto trading, faces a daunting challenge as it halts operations following a $26 million security breach.

  • To steal millions, hackers gained access to Kronos Research's API keys.
  • The decision was made to shut down Kronos Research.
  • The market maker disclosed that this was the first time it had suspended operations since 2018.

Cryptocurrency trading and investing company Kronos Research has acknowledged that its API keys were compromised, resulting in a $26 million loss.

Kronos revealed that it had lost over $26 million in cryptocurrency holdings in a recent statement. The company announced that, as a result of the compromise, it has suspended trading for the first time since 2018.

On November 19, Kronos disclosed that company has experienced a significant loss of assets due to improper access to its trading API keys. The stolen sum, according to blockchain researcher ZachXBT, amounts to almost $25 million.

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