Ripple covers Fortress Trust users’ losses
Blockchain startup Ripple covered the losses of Fortress Trust clients as part of its purchase agreement. Fortress said the losses were caused by a “third-party vendor whose cloud tools were compromised”, according to The Block. “Luckily, Ripple was in a position to act quickly to step in and make customers whole, and there have been no breaches to Fortress technology or systems. Fortress notified customers immediately of the incident when it happened — as they mentioned in their tweets.” A spokesperson for Ripple However, the amount of assets lost due to the security incident was not specified. According to a Ripple spokesperson, the firm cannot comment on specific wallets or clients. Now Ripple plans to continue investing in Fortress and its FortressPay services, which will now use Ripple’s payment technology. Crypto.news contacted Ripple for comment but has not yet received any statement yet. You might also like: Legal specialist gives new insight ...