Gatecoin secures £500,000 to relaunch from bitcoin hack

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fintech insurtech wealthtech regtech ai cybertech esg news

Hong Kong-based regulated cryptocurrency trading platform Gatecoin is attempting to bounce back from a crippling hack with a $500,000 investment from an unnamed Japanese investment group.

The funding comes after the exchange suffered an attack that saw the equivalent of $2m lost from clients’ deposits.

The company says that the new capital will be used to relaunch the exchange with an overhauled security infrastructure and a newly hired CTO to oversee the process and secure the platform for the future.

What’s left of the funding will then be used to keep the firm operational as it seeks to raise further funding in order to fully reimburse clients.

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