Fireblocks Hack

Fireblocks company lost 75,000,000 $USD due to the negligence of the security engineer

FireBlocks is an Israeli company that offers traditional financial institutes a seamless plug into the decentralized finance ecosystem and its customers. Cryptocurrency company StakeHound has filed a lawsuit against  Fireblocks, claiming that it lost NIS 245.5 million (approximately $75 million) worth of cryptocurrencies it was entrusted with. StakeHound claims that Fireblocks, a developer of secure cross-enterprise asset transfer infrastructure, was negligent and as a result, the funds have been lost and can not be recovered.

Fireblocks has denied any wrongdoing, claiming that: "The keys were generated by the client and stored outside the Fireblocks platform," and that "the customer did not store the backup with a third-party service provider per our guidelines."