Bitcoin Scam News

2gether Exchange Hacked For Over $1.4 Mln – No Money Left To Compensate Users.

Leading Spanish cryptocurrency trading platform, 2gether, has been hacked for over $1.4 Mln and company executives claim that they don’t have the Money left to pay back its users.

CEO Ramon Ferraz Estrada said over the course of several tweets on Monday that the recent security breach that occurred earlier on 31st July affected crypto investment accounts and exposed user private keys.

A separate announcement later expressed the exchange’s doubts over reimbursing the stolen funds, citing a scarcity of financial capacity. Instead, company officials offered users the bourse’s native 2GT token as full compensation.

“Following the recent 2 days attack, we’ve been working on finding the funds required to secure all positions,” said 2gether within the statement.

“More specifically, and until a couple of minutes ago, we’ve been working with an investment group with which we sadly haven’t been ready to reach an agreement,” it added.

On 31st July, hackers allegedly spirited away €1.18 Mln [around $1.4 Mln] from the trading platform’s cryptocurrency investment coffers – the equivalent of 27% of 2gether’s overall funds. No further detail has been revealed about how precisely the attack happened.

“We want to compensate the quantity of stolen cryptocurrency (26.79% of your position prior to the attack) with a volume in 2GT similar to the issuance price of 5 cents,” the exchange pleaded.

“On top of that, we plan to keep looking, at top capacity and as soon as possible, for extra funds to form up for each single one among your cryptocurrencies,” it said. 2gether’s token allows for in-house exchange transactions only.

The exchange is planning an Ask-Me-Anything [AMA] session on Reddit to attend to customer queries while additional updates, perhaps particularly on the unclear reimbursement timeline, are going to be shared on social media.

This is the 2nd European platform to lose money to cybercriminals within a matter of weeks following the hack of 336 BTC, or $3 Mln, at UK-based Cashaa early July.

Cashaa said that the hacker attacked one among its Blockchain.com wallets, which is employed to store BTC and make transfers from the exchange. The attacker is believed to possess implanted malware into one among the exchange’s computers.

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