2gether

On July 31, 2020, 2gether, a Eurozone-based cryptocurrency trading platform, was hacked, resulting in the theft of €1.183 million (~$1.4 million USD) in cryptocurrencies, representing 26.79% of funds in investment accounts, as reported by ZDNet. Detected at 18:00 CEST, the cyberattack compromised 2gether’s servers, with attackers accessing investment accounts and stealing funds, while user passwords were also exposed, per Twitter (@2gether_global). The exact method of server access remained undisclosed, but 2gether, with an estimated $10 million daily trading volume per CoinGecko, confirmed general wallets, Euro accounts, and payment card details were unaffected. The platform paused operations, urged password changes, and launched an investigation with local authorities, per the article.

Facing insolvency, 2gether failed to secure external funding and offered victims compensation in its native 2GT tokens at €0.05 per token, a plan met with skepticism on Reddit (r/CryptoCurrency). No funds were recovered, and the platform planned a Reddit AMA to address concerns, per ZDNet. One of 208 crypto hacks in 2020 costing $3.7 billion, per Chainalysis, this incident, alongside LMEX’s $150,000 loss, highlighted server security gaps, fueling calls for robust access controls, cold wallet storage, and transparent incident response to protect crypto platforms.