Scott Purcell, the founder and CEO of Fortress Trust, a custodian that safeguards customers' crypto, told Fortune that his firm lost $12 million to $15 million in crypto in a recent hack. Most of that was Bitcoin, but small amounts of USDC and USDT, the two largest stablecoins by market capitalization, also were stolen.
"It was $12 to $15 million out of billions, and we covered it right away," he told Fortune, in reference to the total amount of stolen crypto compared to the amount Fortress Trust holds in custody for customers. "It was only really four customers out of 225,000 customers."
