Dear GateHub Customers,

As explained in our blog posts of 6 June 2019, 7 June 2019, 19 July 2019 and 2 July 2020, GateHub was the victim of a serious cyber attack in May/June 2019. This cyber attack resulted in the fraudulent misappropriation of cryptocurrency assets stored in a number of GateHub's customers' wallets.

Your patience is greatly appreciated and we are now in a position to provide a further update in relation to the criminal proceedings, which are currently ongoing in France before the Paris Judiciary Tribunal (the "French Criminal Proceedings") and are aiming to identify and establish the liability of some of those believed to be responsible for the cyber attack.

On 17 March 2021, the French Agency for the Recovery and Management of Seized and Confiscated Assets (the French agency which facilitates EU-wide tracing of assets derived from crime) auctioned off 611 Bitcoin which had been converted from XRP seized from some of those believed to be responsible for the cyber attack.

GateHub does not exactly know how much was raised as a result of the auction. However, press reports stated that the starting price was €23,250 per Bitcoin but that most coins sold for more than that, and also quoted the French minister for public finances as saying that the sale would raise €24 million.

Should liability be established against the suspected hackers in the French Criminal proceedings, it is expected that some or all of the proceeds from that auction will form part of a pot of funds which should be available to compensate those who had funds taken from their wallets during the cyber attack but only if they have joined the French Criminal Proceedings, ideally prior to the initial investigation stage of those proceedings being completed.

Thank you again for your patience and support in this matter. We will continue working with law enforcement agencies, and will of course endeavour to keep you updated as to the French Criminal Proceedings or any other similar proceedings whenever we are in a position to do so.

announcementIf you consider that funds were taken from your wallet during the cyber attack, you can request to join the French Criminal Proceedings and have the opportunity to request compensation by way of civil damages (although please note that this is subject to the decision of the judge).

GateHub understands that individuals who have not joined the French Criminal Proceedings will not have any entitlement to any funds and/or assets recovered in the framework of the proceedings which may otherwise be available for distribution to those who had funds taken from their wallet during the cyber attack. We have already sent out emails to customers who might have had funds taken from their wallets in the cyber attack. If you have received an email from us, please read it carefully and act accordingly.

If you have not received an email from us but had funds taken from your account, please contact us at [email protected].

If you have any further questions, please contact us at [email protected]