Kronos Research Enters Negotiations with Hacker After $25 Million Cryptocurrency Theft, Offers 10% Bounty
Taipei-based cryptocurrency trading and investment firm Kronos Research has initiated negotiations with the hacker responsible for the recent theft of $25 million from the company’s treasury.
In a public message addressed to the unknown attacker, Kronos Research offered the hacker to return 90% of the stolen funds, and the matter would be dropped, on-chain data shows .
As reported, Kronos Research reported an unauthorized breach of its API keys last key, which allowed the hacker to gain access to the firm’s funds.
Onchain experts ZachXBT and Lookonchain later confirmed that the attacker absconded with approximately $25 million, primarily consisting of stablecoins.
“At present, 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,” the firm posted on X.
KronosResearch was attacked and lost ~$25.65M, including 24.57M $USDT, 488.7 $ETH($959K) and 125,056 $USDC.
24.57M $USDT was swapped to 12,457 $ETH and 125,056 $USDC was swapped to 63.6 $ETH.
All 13,010 $ETH was transferred to 7 wallets, of which 1 $ETH to #ChangeNOW. pic.twitter.com/FztcM8YZHS
— Lookonchain (@lookonchain) November 19, 2023
This public negotiation between hackers and their victims has become a recurring trend.
Recently, the hacker involved in the KyberSwap exploit even signed one of the transactions that siphoned funds from the decentralized exchange, expressing a willingness to commence discussions when fully rested.
KyberSwap responded by offering a 10% bounty as an incentive for the return of the stolen funds.
In a similar vein, Curve Finance previously proposed a 10% bounty to
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