What Caused Ripple’s $15M Crypto Hack at Fortress Trust?


18 Sep 2023 11:50 AM

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.

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You May Ask

What caused the $15 million loss for Fortress Trust?How did the breach in Google Authenticator occur?What type of attack led to the security breach in Retool?What measures can be taken to prevent similar incidents in the future?Are the hackers responsible for this attack known?

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