Kronos Research, a quantitative trading firm, revealed that on November 19th an unauthorized entity had gained access to some of their API keys. Subsequently, Kronos Research paused their trading services while they conducted their investigations into the incident. Blockchain investigator ZachXBT reported that around $25 million had been stolen from a Kronos Research account by the hacker and split into six transactions. Due to the hack investigation, Kronos Research has stopped their trading services indefinitely. The increasing amount of crypto hacks highlight the need for investors to conduct extensive research into the projects they are investing in. Security firm CertiK reported that the third quarter of 2023 was the most damaging for crypto, with private key exploits, exit scams, and oracle manipulation techniques resulting in over $700 million worth of digital assets lost. This demonstrates the importance of having efficient security measures in place for digital currency funds. It is also essential to diversify the funds across multiple wallets to reduce the likelihood of suffering significant losses from a single hack.



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