2Gether hacked - can't afford to pay back

2Gether hacked - can't afford to pay back

By Permabull | Permabull | 4 Aug 2020

2Gether - an European crypt exchange got hacked and lost about 1.183 Million Euro - about 1.4 Million USD. That's nothing new, exchanges get hacked all the time. The problem is, they can't afford to pay the money back to their users.

The CEO Ramon Ferraz Estrada said over the course of a few tweets on Monday that the breach of July 31 2020 affected crypto investment accounts and exposed user private keys.

They were looking for a way to repay all crypto back to their users but weren't able to find a solution.

"The amount of taken cryptocurrencies in the attack has been of around €1,183M. Allthrough the weekend, we’ve rebuilt the internal accounting of the database, and we’ve audited the illegal transactions that affected our Kraken accounts. With both systems balanced, we can conclude that beyond the fact that the total harm done to the account’s funds amounts to 26.79%, the specific impact on BTC represents 47.35%, and the impact on ETH, 11.04%, with the other cryptocurrencies not having been affected. These percentages will be applied in the App’s reopening"


Refund of stolen amounts

Two of our main courses of action during this crisis are trying to recover the stolen cryptocurrencies and the search for funding for all the stolen amounts. Even though we’re confident about our capability to get funding, we still aren’t in a position to offer it. In this context, two days ago we offered you the possibility of giving you 2GT to compensate the stolen funds. This decision wasn’t accepted by the people who, just like us, believe in the 2GT, due to its potential harming effect in the ICO we’ve planned for the end of the year, and neither by those who don’t see its value.For this reason, we’ve decided to introduce a different offer, it being that each Founder / user affected can choose among the following three options:

• Receiving the taken amount of funds in 2GT tokens, at the issuance price of €0.05.
• Receiving the taken amount of funds in company shares, in the same conditions in which the funding is discussed with investors.
• Waiting until the recovery of all stolen funds or until obtaining the funds needed to refund the full position.


If you don't trade, take your coins out of any exchange now, please. Not your keys - Not your coin.


Thank you guys for reading, liking, following, and tipping. Extremely appreciated! 👍



Saw crypto as a way to make some cash. Learned about the tech and will stay in forever.


Born to be bull.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.