Insiders: The cyber attack on cloud service provider Retool caused Fortress to lose tens of millions of dollars

ChainCatcher news, Fortress Trust CEO Scott Purcell disclosed that the company lost between $12 million and $15 million in cryptocurrency during an attack on a third-party cloud tool provider. According to sources, the vendor is Retool, which also acknowledged that it was a victim of a phishing attack.

It is reported that Retool is a San Francisco-based company with Fortune 500 clients, and it has built funding portals for a few Fortress clients. Retool stated that the attackers targeted "a specific group of clients," all of whom are engaged in cryptocurrency business. Clients who configured their software as recommended by the company were not affected, and the vast majority of cryptocurrency clients use the product in this way. Clients deploying Retool on-premises were unaffected, as retoolon-prem runs in a 'zero trust' environment that does not trust retool cloud.

Previous report, Web3 charter trust company Fortress Trust founder and CEO Scott Purcell stated that before Fortress Trust was acquired by Ripple, it lost between $12 million and $15 million in cryptocurrency during a recent hacking incident, most of which was Bitcoin, along with a small amount of USDC and USDT stolen.