News/Klaytn-based DeFi Project Kronos DAO Allegedly Misappropriated 6 Million DAI Staked by Users

Klaytn-based DeFi Project Kronos DAO Allegedly Misappropriated 6 Million DAI Staked by Users

May 19,2022,17:57
Klaytn-based DeFi project Kronos DAO allegedly misappropriated 6 million DAI (KDAI) staked by users in its Vault to Kairos Cash, and then transferred the funds from Kairos Cash to Binance and withdrew them in various ways. Currently, Kronos Dao has shut down its Kakao Talk and Telegram channels, leaving only Discord as the communication channel. Kairos Cash is a stablecoin that uses Kronos Coin as collateral, similar to the relationship between Luna and TerraUSD. In addition, both Kairos Cash and Kronos are launched by Kronos DAO.
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