Spanish FinTech platform 2Gether has announced that its clients' cryptocurrency investment accounts were affected during a recent hack, with the compromised funds exceeding €1,3 million.
Recently, the platform 2Gether announced via its Twitter account that it was the victim of a terrible hack, where approximately 1,3 million euros in investment funds in cryptocurrencies, were compromised, as well as the access passwords of its clients and users.
2Gether is a Spanish NeoBank platform that provides financial, banking and investment services, operating in 19 countries in the Eurozone. Despite being founded in January 2019 and having only been on the market for a short time, the company has grown exponentially in recent months, reaching a large number of clients and users.
During the hack, Ramon Ferraz, CEO of the platform, spoke out to inform the community that the hacking of 2Gether's cryptocurrency accounts compromised approximately 1,3 million euros. Likewise, Ferraz announced that the funds in euros and the Wallets of clients and users were not compromised, nor were the funds available on debit or credit cards issued by the platform in partnership with Visa. Now the technical team at 2Gether is working hard with the Spanish authorities to clarify how the hack occurred, who is responsible behind this event and perhaps reverse the situation so that the affected users can recover the lost funds.
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Report of the facts
On July 31, the platform announced that it would be shutting down operations for a few hours as it needed maintenance.
Although Ferraz had not issued any information about the situation at that time, users began to express their discomfort and annoyance at the situation, formulating hypotheses about whether it was a hack, a service outage or some other failure in the system.
After a few hours, Ferraz spoke out confirming what many users feared: a hack to the platform.
The message posted by Ferraz indicates that 2Gether's cryptocurrency accounts were hacked, and shortly after confirmed that approximately 1,3 million euros were compromised during the attack, according to data from initial investigations.
Since the news broke, the 2Gether platform has issued statements on its website to keep the community informed about the situation, although so far they have not left a clear response on the actions they are going to take to protect users and their investments.
2Gether Recommendations and User Response
The company too confirmed that several of the users' encrypted passwords were stolen, so it recommended that the community change them immediately, especially if the same passwords are used to access other service platforms.
Although this is unfortunate news for both the platform and its users, anger and discontent were not long in coming. Users claim, among many things, that “A security issue is understandable but a liability issue would be unacceptable.”, stating that if the platform was hacked, it should be held responsible for the lost funds. Similarly, another Twitter user commented that it should not be the users who take responsibility for the problem.
To date, Ferraz has said that it will keep the community informed about new developments in the investigations being carried out in conjunction with the authorities, and about the measures that the company will take regarding the stolen funds to protect its clients. This is the first hack that 2Gether has suffered in its almost two years of existence; in addition, the platform had been preparing to launch a new token on the market: the 2GT, utility token planned for later this year. It is not yet known what impact the recent hack will have on customer and user confidence levels and on the platform’s future development plans.
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