Hackers have targeted the IRA Financial Trust, an American pension fund that is investing in the market cryptocurrency through the Gemini exchange.
IRA Financial Trust, an American pension fund, was stolen $ 36 million by hackers in the form of cryptocurrency is being kept on the Gemini exchange.
An IRA Financial Trust is an investment firm that specializes in using clients' retirement funds for profit. The company has been facing charges of losing money since last week.
13, IRA Financial claims to have “detected suspicious behavior involving a certain number of customers of the Gemini cryptocurrency exchange.” Even so, the company claims all investor funds are still safe and has reached out to the affected people to resolve. The company insists it will do everything to bring those responsible to light, including hiring third-party investigative experts and contacting the authorities.
However, IRA Financial's announcement did not mention the specific nature of the incident, nor the specific amount of damage.
According to an inside source from the newspaper Bloomberg, hacker successfully took away 21 million dollars Bitcoin and 15 million dollars Ethereum from an IRA Financial user account, which is linked to the Gemini cryptocurrency exchange.
Gemini was founded by the Winklevoss . brothers
Gemini is one of the famous exchanges in the United States, founded by the Winklevoss brothers - who once sued Mark Zuckerberg over the idea that led to the formation of the social network Facebook. These two are also investors Bitcoin early on and became a dollar billionaire thanks BTC. Gemini exchange has obtained a BitLicense license from the New York state government, one of the strictest cryptocurrency management licenses in the US.
Security analysis firm Chainalysis confirms the amount of money ETH The stolen items were laundered by hackers through Tornado, a transaction mixing gateway to erase traces of money.
It remains unclear whether IRA Financial or Gemini will be held accountable. A representative for IRA Financial confirmed they were investigating security measures that were not provided by Gemini. However, the representative declined to comment on the IRA's security mechanisms, or whether it will compensate customers for damage.
Meanwhile, Gemini claims its platform is free of vulnerabilities and has security support for IRA Financial accounts, which requires all accounts to install two-factor authentication (2FA). Gemini says it stands ready to assist IRA Financial with the investigation.
Some IRA Financial users have on the Reddit forum to discuss the case. Most of those affected reported their money being moved to an IRA account called “Benjamin Choe” before being shunted elsewhere. They surmised that the hacker gained access to IRA Financial's system and then made unauthorized withdrawals.
This is the next notable crypto attack in 2022, after the exchange Crypto.com ($33 million), project lending QuBit Finance ($80 million), Wormhole cross-chain protocol ($325 million) and applications DeFi QiDAO/Superfluid ($13 million)