Fortress CEO Steps Down After Failed Ripple Deal and Recent Hacking Incident
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Fortress CEO Scott Purcell has stepped down after the sale to Ripple fell through.
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Fortress recently suffered a hacking incident that lost $14-15 million in customer funds.
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Ripple had planned to acquire Fortress but backed out of the deal in September.
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Purcell previously led Prime Trust, another crypto custodian that went into receivership.
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Fortress laid off some employees after the Ripple deal collapsed but has since rehired a similar number.