Kronos Research, a trading, market-making, and venture capital firm based in Taipei, has encountered a cybersecurity breach involving the unauthorized acquisition of its API keys. However, the company has clarified that only a small portion of its overall assets were affected.

ZachXBT, a blockchain research entity, has identified significant fund transfers from a related wallet, estimating that the illicitly acquired amount exceeds $25 million.

In response, Kronos has temporarily halted all trading activities, causing notable disruptions to its exchange platform, Woo X, which it utilizes for market-making purposes. Woo X has assured customers that their funds are secure, although certain asset pairings have been temporarily disabled due to liquidity constraints resulting from Kronos' trading suspension. However, spot and perpetual trading have resumed normal operations.

Kronos Research has announced its intention to resume trading activities in the near future, pending favorable conditions.

Kronos Research is a technology-driven trading firm that has experienced rapid growth since its establishment in 2018, with its headquarters in Taipei and an office in Shanghai, and plans for further expansion.