According to a report by Bloomberg, Hackers stole $36 million from retirement accounts held in Individual Retirement Accounts (IRA) Financial Trust Co.
The hack was in the loss of $21 million in Bitcoin and $15 million in Ethereum, which has been drained from the IRA accounts.
It’s been nearly a week since an apparent security breach sent IRA Financial’s clients into a panic.
IRA Financial’s official Twitter account confirmed that they discovered “suspicious activity” related to consumer funds, adding that it “affected a limited subset of our customers with accounts on the Gemini cryptocurrency exchange.”
“Our investigation is ongoing, but a preliminary assessment indicates an attempted theft of cryptocurrency funds within the impacted accounts occurred. We are proactively utilizing all available resources to recover the funds,” the statement read.
Individual retirement accounts, or IRAs, are tax-advantaged savings accounts for American workers that allow for investments in stocks, bonds, and mutual funds but not in cryptocurrencies.
Its customers can invest in retirement through its app, which is linked to Gemini Trust Co. You can hold it in your IRA if you can buy it on Gemini.
A recent discovery of a 2016 Bitfinex hack by a New York couple who laundered 119,754 bitcoins, now worth $4.5 billion, surfaced. On the same incident, Netflix announced a documentary series to capture the crypto hack in visuals.
