Fortress Trust’s $15 Million Cryptocurrency Theft Traced to Phishing Attack on Vendor Retool

September 13, 203.

Fortress Trust’s recent disclosure of a cryptocurrency theft totaling nearly $15 million has been attributed to a phishing attack on vendor Retool, a San Francisco-based company. Retool, which built a portal for Fortress clients to access their funds, fell victim to the phishing attack, allowing hackers to compromise the system. The theft prompted Fortress to agree to sell itself to blockchain tech company Ripple. While $15 million is a relatively small sum compared to the overall assets held by Fortress, the incident highlights vulnerabilities in the cryptocurrency market and the need for robust security measures.

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