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Phishing Attack on Cloud Provider Led to $15M Crypto Theft From Fortress Trust
Scott Purcell, the founder and CEO of the embattled crypto custodian Fortress, has stepped down amid broader staffing issues. Fortress Trust was formed by leading crypto regulators, bankers and blockchain experts to provide innovators with compliant financial infrastructure to. Scott Purcell, the founder and CEO of Fortress Trust, a custodian that safeguards customers' crypto, told Fortune that his firm lost $

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calendar_month 25.10.2021

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As for Purcell's next venture, according to his LinkedIn, he founded a startup earlier this month that's in stealth mode. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity. A spokesperson for Ripple told Fortune that the decision to back out of the acquisition was "not due to the hack or how Scott handled it" and said that Ripple will remain an investor in Fortress. Shortly after news broke of Ripple backing out, Purcell said Fortress had laid off four members of its sales team as well as several other employees. Gold 2,