2gether, a Spanish cryptocurrency trading platform, has been hacked for about $1.4 million and company executives claim that they do not have the money to repay customers.

Chief executive officer Ramon Ferraz Estrada said over the course of several tweets on Monday that the breach of July 31 affected crypto investment accounts and exposed user private keys.

A separate announcement later expressed the exchange’s doubts over reimbursing the stolen funds, citing a lack of financial capacity. Instead, company officials offered customers the bourse’s native 2GT token as full compensation.

“In the two days following the attack, we’ve been working on finding the funds needed to cover all positions,” said 2gether in the statement.

“More specifically, and until a few minutes ago, we’ve been working with an investment group with which we sadly haven’t been able to reach an agreement,” it added.

On July 31, hackers allegedly spirited away €1.18 million ($1.4 million) from the trading platform’s cryptocurrency investment coffers – the…

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Source: https://news.bitcoin.com/european-bitcoin-exchange-hacked-for-1-4-million-claims-it-cannot-afford-to-repay-users/