Gatecoin exchange, a cryptocurrency giant that fell prey to a dire cyberattack in May, announced receiving $500,000 from a listed Japanese investment company.
The investment will be partially used to set up a better security system and to employ new cybersecurity specialists.
As CoinFox reported earlier, unknown hackers used a security breach to steal 250 bitcoins and 185,000 ethers from Gatecoin hot wallets. At the moment, the stolen sum is estimated at $2 mln; it was 15% of the total exchange's cryptocurrency deposit, the price of the stolen coins now being much higher due to the recent price growth.
Gatecoin's founder and CEO Aurélien Menant said that the other part of the half-million investment will be used to maintain the company while its managers are working to repay losses to customers. Another exchange, Poloniex, has helped Gatecoin to return 5,000 ethers.
The main fundraising channels are equity investment, debenture investment and profit from block trades. The company had also mentioned a provisional arrangement with an investor who was ready to become a Gatecoin's shareholder.
The exchange had to halt its activities for the period of investigation; its relaunch has been delayed more than once. Now the company's blog informs that Gatecoin will return online in early August, as soon as its defence software is renewed.
Menant said that the criminal investigation led by Cyber Security and Technology Crime Bureau of the Hong Kong police is still in process, therefore, the company could not provide more details about the security breach.
Gatecoin was founded in 2013. The company is a licensed money service operator in Hong Kong, despite the decision of the city’s Legislative Council that bitcoin and other cryptocurrencies do not require regulation. The cryptocurrency startup attracted $150,000 of venture investment. In 2014, it won the Best Startup prize for the Central and East Asia Region at the Talent Unleashed. It is the only bitcoin company to join the incubator of the Hong Kong Science and Technology Parks Corporation.
Before Gatecoin halted its work, its capitalisation was estimated at $5,077,950. In addition to trading in digital and traditional currencies, the company processes international money transfers.
Ludmila Brus
