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    <p>The third-party blamed for a security failure that allowed a phishing attack to steal $15 million in crypto from Fortress Trust has been named by CoinDesk as Retool, a software development firm with multiple Fortune 500 clients.&nbsp;</p> 
    <p>On September 7, Fortress announced that cloud <a rel="dofollow" title="software" href="https://thebittimes.com/tag/software.html">software</a> provided by a third-party had been “compromised” while failing to mention the firm responsible by name. It also claimed there was “no loss of funds.”&nbsp;</p> 
    <p>Yesterday evening, CoinDesk cited unnamed sources familiar with the situation that the firm was <a rel="dofollow" title="Retool" href="https://thebittimes.com/tag/retool.html">Retool</a>. The San Francisco firm provides an online portal for Fortress customers that allows them to access their funds.</p> 
    <p>In response to CoinDesk, Retool acknowledged it had been the victim of a phishing attack. In a blog post published yesterday, it claimed that 27 cloud customers had unauthorized access to their accounts. Retool, however, failed to mention Fortress in the post.&nbsp;</p> 
    <p><a rel="dofollow" title="Retool" href="https://thebittimes.com/tag/retool.html">Retool</a> detailed how one employee was tricked into giving up their multi-factor authentication codes to a hacker. The hacker used a deepfake voice of an employee the victim knew and knowledge of the office layout and staff announcements to convince them to click on the malicious link.&nbsp;</p> 
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       Fortress Trust says ‘no loss of funds’ as its customers’ crypto was stolen
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      <em>Read more: Banq alleges founder stole assets to start crypto custodian Fortress</em>
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    <p>Lucky for the affected Fortress customers, crypto firm Ripple placed a $15 million downpayment as part of acquisition talks with Fortress that would in turn reimburse customers affected by the <a rel="dofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>.&nbsp;</p> 
    <p>“Conversations accelerated last week following the security incident via a third-party analytics vendor, but this opportunity makes sense for Ripple in the long term,” Ripple said on Monday.</p> 
    <p>According to a Ripple spokesperson, Fortress covered the majority of affected customer funds but Ripple “stepped in to make the rest of those customers whole.” </p> 
    <p>BitGo and Fire Wallets, who are both integrated with Fortress, deny any breach in their services. In addition, Swan Bitcoin, a brokerage firm associated with Fortress and BitGo, said its crypto had not been moved.&nbsp;&nbsp;</p> 
    <p>In a statement to Protos, the founder of <a rel="dofollow" title="Fortress Trust" href="https://thebittimes.com/tag/fortress-trust.html">Fortress Trust</a> said that “NO CUSTOMERS HAVE LOST ANY ASSETS,” in the sense that the assets were hacked, but that <a rel="dofollow" title="Fortress Trust" href="https://thebittimes.com/tag/fortress-trust.html">Fortress Trust</a> “instantly used [its] balance sheet to cover most of the customers in whole and by Tuesday,” with the help of Ripple.</p> 
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/phishing-attack-on-software-firm-retool-enabled-fortress-trust-hack-coindesk-tbt62752.html">https://thebittimes.com/phishing-attack-on-software-firm-retool-enabled-fortress-trust-hack-coindesk-tbt62752.html</a></p>

Phishing attack on software firm Retool enabled Fortress Trust hack: CoinDesk

TheBitTimes

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