Gemini and IRA Financial Trust Settle Lawsuit Over $36 Million Crypto Hack

Cryptocurrency exchange Gemini has reached a settlement with retirement and pension platform IRA Financial Trust, concluding a lawsuit filed in 2022. On July 18, Judge Analisa Torres of the United States District Court for the Southern District of New York dismissed the case filed by IRA Financial Trust with prejudice, following a settlement agreement between IRA Financial Trust and Gemini Trust. The lawsuit, initially filed by IRA in June 2022, accused Gemini of misrepresenting its security protections. IRA Financial Trust alleged that Gemini’s lack of transparency regarding its security protocols made the company liable for a February 2022 hack, during

Source: CryptoIntelligence