The IRA Financial Trust, a digital asset retirement account management company, was hacked on February 8. According to preliminary estimates, hackers stole $21 million worth of BTC and $15 million of ETH.
IRA Financial, a trust company based in South Dakota, offers digital solutions that enable retirees to invest in various assets. The company’s accounts are serviced by the Gemini cryptocurrency exchange operating under the BitLicense license.
A few days ago, Adam Bergman, the founder of the IRA Financial Trust, tweeted about suspicious activity, indicative of attempted theft of funds, which affected a certain number of customers with accounts on the Gemini exchange. According to Bloomberg, hackers stole $21 million worth of BTC and $15 million of ETH.
The IRA Financial Trust brought in third-party experts to investigate and reported the breach to federal law enforcement. Gemini’s head of communications, Carolyn Vadino, said Gemini’s systems had not been hacked or compromised.
The exchange is aware of the incident with the IRA Financial Trust, and has offered the company its assistance in the investigation. She emphasized that even if IRA Financial accounts are serviced on the Gemini platform, the exchange does not ensure the security of the company’s systems.
Investing in bitcoin is becoming more and more popular among pension funds from different countries. Last year, two pension funds from Virginia filed applications with the regulator for approval of investments in the Parataxis Capital Management fund, which directly buys cryptocurrencies. A pension fund from South Korea also announced its readiness to invest part of the capital in ETFs for bitcoin futures.
Source: Bits
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