Kronos Analysis Provides 10% Bounty Following $26 Million Hack

After being robbed of $26 million in crypto earlier this month, buying and selling agency Kronos Analysis is reaching out to their hacker to barter.

The corporate has provided to drop all authorized prices if the hacker returns 90% of the stolen funds, leaving him ~$2.5 million to maintain.

The Kronos Analysis Hack

Kronos made its provide by means of an Ethereum transaction message to the hacker’s blockchain handle on Monday – a standard methodology for immediately negotiating with nameless crypto thieves.

“We acknowledge the complexity of the scenario and are ready to barter a decision,” wrote Kronos. “We suggest a ten% bounty of any funds stolen, with the remaining 90% to be returned, wherein case we won’t pursue this additional.”

The agency added that its provide will solely stay legitimate till Thursday, November 30 at 08:00 UTC.

Kronos initially reported the hack on November 18, claiming that an unauthorized entity had gained entry to its API keys. Buying and selling and withdrawals have resumed since, and the corporate assured followers that its losses have been “not a good portion” of its fairness and may very well be coated internally.

Later research from blockchain investigators at Lookonchain discovered that many of the losses ($24.57 million) have been misplaced in Tether USD (USDT), alongside one other ~$959,000 in Ether (ETH), and ~$125,000 in USD Coin (USDC).

The Fantastic thing about Bounties

The loot, whereas substantial, is hardly unordinary in crypto.

Lower than every week prior, on-chain sleuth ZachXBT reported a $27 million USDT hack from an unidentified crypto pockets, after which the hacker used widespread strategies to obscure his path of stolen funds on the blockchain.

In one other main hack this month, Justin Solar-owned crypto change Poloniex lost $125 million throughout over 175 totally different property together with BTC, ETH, stablecoins, and varied memecoins. One other of the billionaire’s exchanges, HTX, was hacked for $8 million in September.

In each instances, the exchanges provided whitehat bonuses just like Kronos, proposing to let the hackers preserve 5% of their loot. The HTX hacker has already accepted and returned many of the cash, with Solar now planning an “epic airdrop” for victims at each exchanges.

Kyber Community – a cross chain DEX protocol hacked for over $46 million final week – additionally recovered $4.7 million on Monday by means of whitehat bounty negotiations.