Ripple Bails Out Fortress Trust After Breach
- Centralized Exchange
- Security
The Block reported Ripple would cover undisclosed customer losses from a security incident at Fortress Trust as part of the acquisition. The breach was announced days earlier on September 8. Ripple stepped in to protect users during the deal close.
Incident Details
- Type
- CUSTODY FAILURE
- Funds Lost
- $0
- Status
- Partial recovery
Ripple covered losses to complete acquisition.