Crypto Hackers Steal $36 Million from Retirement Accounts
Reading Time: < 1 minute

Crypto hackers steal nearly $36 million from IRA Financial Trust retirement accounts. According to Bloomberg, the hackers managed to drain $21 million in bitcoin and collected $15 million in Ethereum from IRA Financial Trust customers.

IRA Financial discovered the hack on Feb 9 when that affected some customers relying on the Gemini Trust Co. crypto exchange. According to Chainalysis, a blockchain data platform, the funds were linked to money laundering activity and the operation was conducted through the Tornado “mixer” service.

IRA Financial spokesperson told Bloomberg, the company was focusing on investigating the security controls regarding the claims. Adam Bergman, IRA Financial Trust Founder tweeted a letter on Saturday which said, the company “had detected suspicious activity specifically involving a very limited number of customers in the Gemini cryptocurrency exchange. I am very upset by what occurred, and I want to assure you that we are taking all appropriate steps to address this situation–including the involvement of third-party forensic experts and state and federal law enforcement.”

Gemini cryptocurrency exchange offers services to IRA Finacial’s accounts on Reddit said it does not manage the security of the IRA Financial’s systems.

While a person who fell victim to the hacking incident said, “I was notified IRA Financial had been hacked on February 8th. My account is linked to Gemini and has also been hacked,” 

Yet another wrote on Reddit. “Money was transferred from my Gemini account to someone random. I’ve followed up with both Gemini and IRA Financial and they said they are working on it. I haven’t heard of anyone else being affected by this hack.”

Related Articles:
Crypto YouTubers Fall Prey to Hacking and Scamming Attempt
Crypto.com Hacked – Hackers Walk Away with over $30 Million in Various Cryptocurrencies
Crypto ATMs offline as Singapore To Limit ‘on impulse’ trading