Ripple took action after Fortress Trust, a blockchain infrastructure initiative, suffered a security attack.
Crypto payments company Ripple has covered the losses suffered by Fortress Trust’s clients as part of the buyout agreement. Fortress said in a statement on X on Sept. 7 that users were affected by the takeover of their cloud tools, but no funds were lost. Following this situation, a Ripple spokesperson stated that the activities regarding the acquisition of Fortress have accelerated.
Speeded up the deal process
Ripple stepped in as part of the accelerated purchasing process with the security attack. Making a comprehensive statement about recent events, Ripple spokesperson said:
“After the security incident last week, negotiations accelerated. These developments make sense for Ripple in the long run. We previously discussed a potential acquisition with Fortress. Fortunately, Ripple quickly stepped in and worked to improve users. There were no breaches of Fortress technology or systems. Fortress provided a direct flow of information about the event with its shares on social media.
The amount of crypto lost as a result of the vulnerability remains unclear. Additionally, a Ripple spokesperson said that the company cannot comment on specific wallets or customers.
Considering that the crypto industry does not look good on both technical and fundamental analysis sides, the XRP price was shaken even more with these events. The major coin, which was traded at $ 0.4963 in the morning, dropped a needle to $ 0.4588, showing a decrease of 7.50%. XRP, which has lost 17 percent in the last 2 weeks, continues to protect $ 0.4496 as a support point.
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