Gatecoin Raised $500,000 to Recover from Ethereum Cyber Hack

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Gatecoin Raised $500,000 to Recover from Ethereum Cyber Hack

Postby » Tue Jul 05, 2016 11:11 am

Good news for former clients of Hong Kong regulated financial institution for blockchain assets, Gatecoin. The founder and CEO of the firm, Aurelien Menant, reports he raised an equity investment of $500,000 from an unnamed publicly listed Japanese investment company.

Back in May, Menant notified investors of a cyber attack on Gatecoin’s system resulting in a loss of client deposits. “In total, the hot wallet breach resulted in the loss of ETH 185,000 and BTC 250, which is equivalent to USD 2 million. This represents 15% of total crypto-asset deposits held by Gatecoin.”

The newly raised funds will be used to open the venue back for trading, according ... (read more)

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