2Gether cryptocurrency exchange hacked; Hackers steal crypto worth $1.4 million

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Europe based 2Gether cryptocurrency exchange hacked, unknown hackers stole cryptocurrencies worth $1.4 million

2Gether, the Europe based cryptocurrency exchange has been hacked. According to a joint post made on 2Gether.global by Chairman Salvador Casquero, CEO Ramón Ferraz, and Director Luis Estrada, hackers managed to hack into 2Gether user accounts and were able to exfiltrate cryptocurrencies worth $1.4 million.

The hack attack occurred on 31st July and was noticed immediately by the 2Gether security team who managed to limit the amount of cryptocurrency theft to $1.4 million which amounted to 26.79% of the positions in the user accounts in Kraken.

Spain based 2Gether was founded in 2017 and offered very generous terms for cryptocurrency trading. Users could buy and sell without any monthly fees, ATM fees, transaction fees, etc. It also offered its services through Android and iPhone Apps.

The hack attack occurred at the most inopportune moment as 2Gether was getting ready to launch its own 2GT token in 2020.

Estrada took to Twitter to tell 2Gether users that the hacking did not impact general wallets and Euro accounts. He also stated that the hackers did not steal payment card information the traders may have used to deposit funds.

The update also said that the exchange was going through an “extremely difficult situation has brought us all a lot of uncertainty,” branding the hackers responsible as “soulless individuals.” It added that the exchange does not have enough funds to cover the hacked amount and they were looking for a cash injection from a third party.

At this point, we want to offer you the solution that offers the best guarantees for your funds: 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. 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. That way you’ll be able to get back the totality of your positions, and the equivalent value in 2GT tokens at issuance price.

The statement says.

The update also added that the executives will hold an open AMA session on Reddit to answer all the 2Gether exchange user queries.

In the next few days we’ll organize an AMA (Ask Me Anything) session to clarify all your questions. We hope you can see these hard times and adverse events compensated soon, whether you decide to give us the vote of confidence we’re asking you for or not.

The statement adds.

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