According to an initial estimate, the hack – which had only targeted cryptos probably because of the easier liquidation – had been able to steal almost 27% of all funds held by 2gether, or 1.1 million euros.
In fact, in 2gether’s most recent press release, it was specified that 114 Bitcoins and 276 Ethereums were stolen for a value of 1.183 million euros.
Ramón Ferraz, CEO of 2gether, said:
„The cyber attack has damaged us, but has not jeopardized the continuity of the project. The 2gether team managed to contain the attack and the percentage of funds stolen from client positions was 15%. This is a damage that can be managed by the company. We are working on possible solutions to compensate for all the stolen funds“.
Since then, the company has been working with Guardia Civil and National Police to recover the stolen crypto, while in the meantime it is organizing for a new round of funding to ensure that all the stolen funds are repaid.
In addition, 2gether has decided to give customers the opportunity to convert the losses into company capital or 2GT tokens.
2gether: post hack security
After the accident in July, the company is working on improving the platform so that such problems will not arise again in the future.
To this end, 2gether has set up tools to monitor potential threats and have more insurance policies.
In this regard, Ferraz said:
„The weeks following the attack were crucial in assessing the impact on the business. This month, crypto transactions were more numerous than the previous month, i.e. before the incident, and the number of users continues to grow. The important thing about this data is that it shows that most users still have confidence in the platform and our ability to solve the problem. The team continues to pursue our previously planned growth and product development plan, and we are very grateful for the support we are receiving from the community in managing this difficult and unexpected event“.
What is 2gether?
For those who have not followed the news, 2gether is a Spanish app to buy cryptocurrency and also provides users with a Visa debit card to spend it.
The company was founded in 2017 and the following year a pre-sale of the 2GT token was held.