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IRA Financial Hacked, $36 Million in Cryptocurrency Stolen

Feb. 14, 2022, 10:37 PM

A hack at IRA Financial Trust, which offers self-directed retirement accounts, resulted in the theft of $36 million in cryptocurrency, according to a person familiar with the investigation.

In a statement, IRA Financial Trust said on Feb. 8 it discovered “suspicious activity that has affected a limited subset of our customers with accounts on the Gemini cryptocurrency exchange. Upon discovery, we immediately launched an investigation and contacted state and federal law enforcement.”

That same day, unidentified hackers drained $21 million in Bitcoin and $15 million in Ethereum from the accounts of IRA Financial Trust customers, the person said. IRA ...