Ripple says security incident accelerated its acquisition of Fortress Trust By Cointelegraph
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The takeover of Fortress Trust by financial technology company on Sept. 8 involved more than just an acquisition deal. The transaction was accelerated by a security incident hours earlier involving a Fortress third-party analytics vendor, Ripple confirmed to Cointelegraph.
According to a representative from Ripple, discussions between the companies intensified last week after cloud tools of a third-party analytics vendor were compromised. In an interview with Fortune, Fortress CEO Scott Purcell said the company lost $12 million to $15 million in the incident. A majority of the funds were (BTC), along with small amounts of (USDC) and (USDT).
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The takeover of Fortress Trust by financial technology company on Sept. 8 involved more than just an acquisition deal. The transaction was accelerated by a security incident hours earlier involving a Fortress third-party analytics vendor, Ripple confirmed to Cointelegraph.
According to a representative from Ripple, discussions between the companies intensified last week after cloud tools of a third-party analytics vendor were compromised. In an interview with Fortune, Fortress CEO Scott Purcell said the company lost $12 million to $15 million in the incident. A majority of the funds were (BTC), along with small amounts of (USDC) and (USDT).
Continue Reading on Coin Telegraph
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