December 5, 2023

IRA Financial pension accounts hacked for $36 million

IRA Financial pension accounts hacked for $36 million

IRA Financial hacked for $36 million.On February 8, hackers stole $21 million in bitcoin and 15millions of dollars in Ethereum from Financial Trust IRA retirement accounts.

On February 8, the IRA Financial Trust reported inTwitter that it detected suspicious activity on some of its clients' accounts on the Gemini crypto exchange. The company sent an individual notice to all affected customers and launched an investigation without giving explanations to users.

It's been almost a week since retirementpeople's savings of more than $36 million were at risk. But neither IRA Financial nor Gemini had a full explanation. The funds are still inaccessible to the owners.

Even the most basic details are unknown, such as how many accounts were compromised and who will covertheir losses. 

It is known for sure that last Tuesday, around 17:00 ET, an account labeled "Benjamin Choe" began withdrawing bitcoin, ether, and US dollars from users' accounts. One user stated that despite multiple layers of account security, he lost 13 ETH, 1 BTC in minutes.

Gemini denies the hack, but the IRA Financial Trust has acknowledged the incident and is investigating.

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