Fortress Trust founder: Before being acquired by Ripple, suffered a loss of 12 to 15 million dollars due to a hacker attack

ChainCatcher news, according to Fortune magazine, Scott Purcell, founder and CEO of the Web3 trust company Fortress Trust, stated that Fortress Trust lost between $12 million and $15 million in cryptocurrency during a recent hacking incident before being acquired by Ripple, with most of the loss in Bitcoin and a small amount of USDC and USDT stolen.

Previously, Fortress Trust did not acknowledge the loss of funds, and on September 7, it disclosed that four Fortress clients were affected by a breach of a third-party vendor's cloud tools, stating that the affected accounts had been fully restored. On September 8, Ripple announced the acquisition of Fortress Trust. The acquisition includes compensation for user funds lost in the hacking incident. Scott Purcell indicated that the fault for the security breach lies with the third-party vendor, not Fortress Trust or the company's custody partners Fireblocks and BitGo.