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2gether will compensate the victims of the hack
2gether will compensate the victims of the hack
Blockchain

2gether will compensate the victims of the hack

By Marco Cavicchioli - 21 Sep 2020

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2gether has announced that it will compensate the victims of the hack suffered between the end of July and the beginning of August. 

In fact, 2gether lost 27% of the funds under management, amounting to 1.1 million euros, as a result of that hack, and now they have announced that they intend to compensate users who fell victim to this theft.  

The Spanish company has currently launched a round of funding with the aim of raising 1.5 million euros with which they would like to buy Bitcoin and Ethereum on the market in order to return all, or most, of the stolen BTC and ETH funds to users, provided their value remains in line with that of the day of the attack.

At the end of July, a BTC was worth about $11,000, while an ETH was worth about $330. Now BTC is worth about $10,800, while ETH is worth about $365. 

Of these 1.5 million euros, 300,000 will be placed by the three founding partners, Luis Estrada, Salvador Casquero and Ramon Ferraz, because they say they have absolute confidence in 2gether‘s future. 

The company also states that negotiations with investors are already underway, and are progressing well, with a lot of interest on the part of the average tickets, between €20,000 and €50,000, and negotiations with several investors willing to cover a large part of the financing round.

At the same time, they are working on crowdfunding to enable everyone to participate in the financing round.

2gether hack, the compensation

In addition, the company has announced that a new feature will be implemented within the app that will convert all or part of the lost funds into company capital or 2GT tokens. 

The process should be intuitive and will be completed directly in-app. 

Those who opt for 2GT tokens will receive them directly within the app, and will be able to use them for the Founder Plus program, whose advanced version will be launched in two weeks.

The Fellow Funders team, with the help of 2gether’s lawyers, will take care of choosing the company’s capital. 

Once this matter is over, the company says it does not want to stop moving forward. 

They declare: 

“The team is more motivated than ever to prove that such a cyberattack is not enough to bring a project like 2gether to its knees. Over the next two weeks, in addition to the compensation process, we will launch our new price model for crypto recall, which will reduce costs for everyone, as well as the new Founder Plus levels, with great benefits for users”. 

The 2GT token will be launched by the end of 2020, although there are no further details so far. 

In the meantime, 2gether is continuing to work closely with the Guardia Civil and the Spanish National Police to recover stolen funds, but this is by no means an easy task. 

The company says it is confident that it can track down the criminals and recover the funds, but obviously it cannot give any guarantees in this regard. For this reason, it has decided to undertake the two solutions mentioned above, so that it can compensate the funds even if the stolen funds are never recovered. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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