2gether, a Spanish cryptocurrency trading platform, has been hacked for about $1.4 million, and company executives claim that they do not have the money to repay customers.
In a continuous set of several tweets, the Chief Executive Officer Ramon Ferraz Estrada announced that on July 31 occurred a breach that seriously affected a considerable amount of crypto investment accounts, and their user private keys got exposed, causing serious damage in the security wall.
A lack of financial capability is expressed as the main concern. The stolen funds cannot be repaid but company officials offered customers the bourse’s native 2GT token as compensation for the damage done.
Two days after the attack, the company has been working on finding enough funds to cover the essential positions. 2gether said this in a public statement. “More specifically, and until a few minutes ago, we’ve been working with an investment group with which we sadly haven’t been able to reach an agreement,” added the company in the statement.
€1.18 million ($1.4 million) is the amount stolen by hackers on July 31 in the trading platform cryptocurrency investment
€1.18 million ($1.4 million) is the amount stolen by hackers on July 31 in the trading platform cryptocurrency investment. This amount is the equivalent of 27% of 2gether total funds; the damage done is unimaginable. The company has not revealed how the attack took action against it.
“We want to compensate the amount of stolen cryptocurrency (26.79% of your position before the attack) with a volume in 2GT equivalent to the issuance price of 5 cents,” Said the company during its statement
They also added, “On top of that, we commit to keep looking, at top capacity and as soon as possible, for additional funds to make up for every single one of your cryptocurrencies”. 2gether’s token allows for in-house exchange transactions only.
The exchange is planning an Ask-Me-Anything (AMA) session on Reddit, so they can attend the entire customer’s questions; give some new updates, and highlights the case. The whole situation will also be explained and shared on social media when the time is right.
Europe is being targeted by cyberattacks
This is not the first platform based in Europe which received a critical hit by cybercriminals. Europe is the main target of cyberattacks to a variety of companies such as Cashaa that claims that the hacker attacked one of its Blockchain.com wallets, which is used to store BTC and make transactions from the exchange. A malware into the exchange’s computer is the main theory and the investigation is still going on.
An investigation is on its course to find out how the criminals managed to create a path leading to the company’s servers and to also obtain an exact figure of how much damage has been done to the company. All this data is being gathered to let the local authorities be aware of the situation.
By Jenson Nunez