Incident Overview
According to Pinpoint News, Klaytn-based DeFi project Kronos DAO misappropriated users’ DAI pledged in its vaults to invest in Kairos Cash and lost 6 million DAI. The 6 million DAI staked by users turned into 6 million Kairos Cash in the Kronos Dao Vault, which Kronos Dao explained was “used as a strategic investment.” Investors, however, questioned that the explanation was insufficient and that no advance notice was given. At present, Kronos Dao has closed Kakao Talk and Telegram communication channels, leaving only Discord as a communication channel.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.