Share this article
Crypto Firm Hacked for $1.4M Admits It Will Struggle to Reimburse Users
Madrid-based payment app and card issuer 2gether said it can only reimburse investors with its native tokens following Friday’s hack.
By Paddy Baker
Updated Sep 14, 2021, 9:39 a.m. Published Aug 3, 2020, 11:44 a.m.
A Spanish cryptocurrency payments app and card issuer has admitted it won't be able to immediately repay users affected by Friday's $1.4 million hack and has offered a compromise instead.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Madrid-based 2gether said Sunday it hadn't been able to find the funds to reimburse all users the €1.2 million stolen by hackers – 26.79% of the firm's total funds – on Friday evening.
- "We can assure you, with a great deal of chagrin, that if we could face this theft with our own funds, we would," the announcement reads.
- Talks with an unnamed investment group reportedly fell through on Sunday.
- Rather than delay any longer, 2gether has offered to reimburse investors in native 2GT tokens – an ERC-20 token that confers incentives and premium access to holders.
- 2gether said users will receive the amount stolen in 2GT at the issuance price of just under $0.06.
- The company said it will then try to scrape the funds together to repay users in the crypto assets they'd lost – it didn't provide a timeframe for when this could happen.
See also: Hacker Exploits Flaw in Decentralized Bitcoin Exchange Bisq to Steal $250K
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Holds Near $92K as Selling Cools, but Demand Still Lags
ETF inflows have finally turned positive, but weak on-chain activity, defensive derivatives positioning, and negative spot CVD show a market stabilizing without the conviction needed for a sustained move higher.
What to know:
- Bitcoin markets in Asia are stabilizing but remain structurally weak, with short-term holders dominating supply.
- U.S. ETF flows have shown signs of stabilization, but on-chain activity remains near cycle lows, indicating weak capital inflows.
- Bitcoin and Ether have seen price recoveries driven by spot demand and improved sentiment, while gold is supported by U.S. labor data and Fed rate cut expectations.
Top Stories
