What Caused Ripple’s $15M Crypto Hack at Fortress Trust?
Fortress Trust had $15 million stolen from it as a consequence of the Google Authenticator breach, which was disclosed by...
- Fortress Trust lost $15 million due to a breach in Google Authenticator, disclosed by Retool.
- Retool experienced a security breach that affected 27 of its cloud customers, resulting from a targeted SMS-based social engineering attack.
- The breach exploited the Google Authenticator cloud sync function, allowing the hacker to access all data within Google Authenticator.
- The incident occurred on August 27, 2023, and resulted in the compromise of 27 cryptocurrency industry customer accounts.
- One of the affected clients, Fortress Trust, lost nearly $15 million in cryptocurrency.
- The attack highlights the vulnerability of syncing one-time codes to the cloud and emphasizes the need for FIDO2-compliant hardware security keys.
The article discusses a significant security breach and cryptocurrency theft, highlighting the vulnerability of certain authentication methods. The sentiment is negative due to the financial loss and potential implications of the breach.