Articles Tagged with Gemini

Chicago-based Stoltmann Law Offices is representing investors who’ve suffered losses from firms that have not protected crypto assets. In this cyber age, some of the biggest thefts don’t involve masked robbers and guns. They happen online as thieves are increasingly stealing digital currencies and Non-Fungible Tokens (NFTs), which are valuable digital images. In the first quarter of this year alone, cyberthieves have robbed some $1.3 billion in hacking events, according to Atlas VPN.

How do thieves pull off these heists? They break into so-called online “digital wallets,” or online exchanges where investors store cyber currencies like Bitcoin. Unlike bank vaults with thick steel doors, these virtual storerooms can be accessed any number of ways through the internet. Third parties act as repositories for the currencies and include:

  • The Ethereum ecosystem was hacked 18 times, resulting in a loss of almost $636 million.

Stoltmann Law Offices is a Chicago-based securities, investment fraud, and class action law firm offering representing to defrauded investors and victims of fraud nationwide on a contingency fee basis.  We have been closely monitoring allegations that IRA Financial Trust account owners had over $36 million in crypto-currency stolen from their IRAs through a hack of their system on or around February 8, 2022. IRA Financial partners with Gemini Trust Co. to offer the opportunity for its self-directed retirement account clients to invest in cryptocurrency. IRA Financial represents on its website that “Our Trust company’s focus on compliance and security is based on three principles: State regulated, Industry-leading technology, and FDIC protection of cash up to $250,000 through Capital One.” The company goes on the admit that it “must meet the capitalization, compliance, anti-money laundering, consumer protection, and cybersecurity requirements set forth by the South Dakota Division of Banking, and protect the interests of our customers first and foremost.” In specifically representing their stringent “Infrastructure Security”, IRA Financial Trust represents that:

  • We leverage the content-security policy (CSP) and HTTP Strict Transport Security (HSTS) features found in modern browsers.
  • We partner with enterprise vendors to mitigate distributed denial-of-service (DDoS) attacks.
CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information