Ripple has revealed that it had to address a security breach in some customer accounts at newly acquired financial technology firm Fortress. The breach occurred two weeks before the acquisition, and while Fortress claimed that impacted accounts were fully restored with no loss of funds, the lack of transparency from both companies raised concerns among the crypto community. Fortress CEO Scott Purcell denied that Fortress, Fireblocks and BitGo were hacked, instead blaming a major third-party cloud database tool for the breach. Purcell said the tool company admitted the breach within 48 hours and is being held accountable. While the amount stolen was not disclosed, Purcell stated it was relatively small compared to Fortress’s overall assets. The incident is now being investigated by the FBI, Secret Service, regulators and cybersecurity teams.
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