StakeHound sues Fireblocks over $75 million loss of ETH Acc | DeFi Check

StakeHound sues Fireblocks over $75 million loss of ETH

According to the representatives of StakeHound, they lost assets in ETH in the total amount of 75 million dollars. And all this happened because the specialists of Fireblocks, which develops secure infrastructure, showed criminal negligence. Because of their unprofessional actions the funds were finally lost!

The negligence of one of the employees of Fireblocks led to the fact that the crypto-assets were lost, and no backup was created.

In order to regain access to the wallet, a backup copy should have been stored at Fireblocks, but this was not done. As a result, the private keys were irretrievably lost, and they did not transfer the keys to Coincover for safekeeping, according to the agreement they had with Coincover.

Such actions ultimately resulted in StakeHound being unable to access their digital wallet, 38,178 ETH were lost forever.