Hackers stole €1.2m worth of cryptocurrency from 2gether

2gether has disclosed a security breach, hackers have stolen roughly €1.2 million worth of cryptocurrency from cryptocurrency investment accounts.

Hackers stole roughly €1.183 million worth of cryptocurrency from investment accounts of 2gether, 26.79% of overall funds stored by the accounts.

The attack took place on July 31 at 6.00 pm CEST, when hackers compromised the company servers.

“As you know, since last Friday July 31, we’ve been managing an extremely difficult situation which has brought us all a lot of uncertainty, caused by the hacking of a substantial part of all the cryptocurrencies available in the 2gether user accounts.” reads a security breach notification published by the company.

“From the moment we became aware of the attack, we’ve been fighting nonstop on different fronts. First, we worked on stopping the hit, limiting the theft to ~€1.183M (which amounted to 26.79% of the positions in the user accounts in Kraken) and preserving the integrity of the euro accounts, the BTC & ETH wallets, and the 2GT accounts.”

2gether is a crypto trading app, in which traders and beginners buy and sell cryptocurrencies at real market price, without added fees, in just one click. The native coin used by the organization is the 2GT token.

2together CEO Ramón Ferraz Estrada confirmed that general wallets and Euro accounts were not impacted in the security breach, he also pointed out that hackers did not steal the financial details of payment cards used to deposit funds.

Estrada urges users to change their passwords because they have been compromised in the attack.

The company did not share technical details of the attack, it only confirmed that an investigation is still ongoing.

The bad news is that according to the executives, the company does not have enough funds to refund its users and is attempting to remediate with a cash injection from an unnamed “investment firm.”

“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.” continues the company. “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 founds of the company plan to do a Reddit Ask Me Anything (AMA) in the next few days to respond to the investors’ questions.

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Pierluigi Paganini

(SecurityAffairs – hacking, 2gether)

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Pierluigi Paganini

Pierluigi Paganini is member of the ENISA (European Union Agency for Network and Information Security) Threat Landscape Stakeholder Group and Cyber G7 Group, he is also a Security Evangelist, Security Analyst and Freelance Writer. Editor-in-Chief at "Cyber Defense Magazine", Pierluigi is a cyber security expert with over 20 years experience in the field, he is Certified Ethical Hacker at EC Council in London. The passion for writing and a strong belief that security is founded on sharing and awareness led Pierluigi to find the security blog "Security Affairs" recently named a Top National Security Resource for US. Pierluigi is a member of the "The Hacker News" team and he is a writer for some major publications in the field such as Cyber War Zone, ICTTF, Infosec Island, Infosec Institute, The Hacker News Magazine and for many other Security magazines. Author of the Books "The Deep Dark Web" and “Digital Virtual Currency and Bitcoin”.