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European Bitcoin Exchange Hacked, Crypto Worth Over 1M Pounds Stolen

2gether, a Europe based virtual currency exchange has become the latest victim of hackers in the crypto space.

The culprits involved in the aforementioned case, fetched over 1 Million pounds-worth cryptocurrency. The crypto exchange’s native token, dubbed 2GT token, was set to be introduced to the community in the imminent weeks in a token sale that would take place in Spain. Nevertheless, at the time of reporting, it’s undecided if the exchange has postponed the plans due to the hack.

It is to be noted that more than twenty five percent of the trading platform’s entire funds were whipped. Ramon Estrada, the CEO of 2gether, tweeted that both Euro and general accounts were not affected by the happening, yet it’s likely that the hackers may have got the access of discrete passwords. The platform’s CEO has recommended all the users to modify their login data to avert additional security incidents.

Even though the exchange is yet to release any details about the hack, the CEO has mentioned that an enquiry is now in progress, and that law enforcement is working to evaluate the overall losses.

This is yet another crypto exchange security incident taking place just a few days after the Twitter hack incident. What do you think can be the suitable steps to prevent such occurrences?

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