Kronos Research Hacker Moves 700 ETH to Tornado Cash
CryptoNewsTerminal Staff21 May, 2024
Kronos Research Hacker Moves 700 ETH to Tornado Cash
Kronos Research, the leading liquidity provider on decentralized exchange WOO X, has fallen victim to another attack. According to security firm PeckShield, an address associated with the Kronos Research attacker has transferred 700 ETH (approximately $2.6 million) to Tornado Cash, a privacy-focused cryptocurrency mixing service. This latest incident serves as a reminder of the heightened risk of hacks and cyberattacks within the decentralized finance (DeFi) sector. As DeFi protocols continue to grow in popularity, it becomes increasingly crucial for users to prioritize security measures and protect their digital assets. Unfortunately, this is not the first time Kronos Research has been targeted by hackers. In November of 2022, the company suffered a major hack that resulted in the theft of 12,800 ETH (valued at around $26 million at the time). While the identity of the attacker remains unknown, the transfer of 700 ETH to Tornado Cash suggests attempts to obscure the trail and launder stolen funds. Law enforcement agencies and blockchain analysis firms are actively monitoring the situation and investigating the incident.
