“Since the attack we have increased the security of our platform”

2gether is a Spanish initiative that has already expanded its activities to various European countries. Cointelegraph en Español spoke to the company’s CEO, Ramón Ferraz, about the interest in cryptocurrencies, the attempts at regulation and the platform’s security following an attack they suffered earlier this year.

Fernando Quirós (FQ): How did 2gether survive the hack and what is the latest news?

Ramón Ferraz (RF): The first, Stop hacking and limit losses. The theft amounted to 14.5% of the balance on the platformWithout the controls in place and the swift action by the technology team on July 31st at 6:00 p.m., the loss could have been greater.

“Since the attack we have increased the security of our platform”
“Since the attack we have increased the security of our platform”

The second with big doses of work. Since the day of the hack, the entire team has worked harder than ever to safely restore service, increase the security of the platform, continue to grow and move forward despite the attack, provide attractive voluntary compensation solutions, and raise the funds required to build a financial one Hedge on that first replenishes stolen, mismatched positions.

Finally, communicate the problem and its solutions with complete honesty and transparency and often so that everyone can act accordingly.

Naturally, Working hand in hand with the authorities with the Civil Guard Telematics Crimes Group.

All of this has enabled us to maintain the trust of a very important part of the 2gether user community, which we will hopefully match after the funding and crowdfunding round is complete.

QQ: What is Equity Crowdfunding with Fellow Funders? Can you give us details?

RF: It is a capital round that all 2gether users, as well as any investor who shares our vision and trusts the company, can participate under the same conditions as qualified investors or the project’s founding partners. .

Fellow Funders offers investors not only support throughout the investment process, but also private access through their website, which repeatedly publishes company monitoring reports, which investors can access freely at any time, informed about its development.

QQ: How are you working on cybersecurity now?

RF: Since the attack, we have increased the security of our platform in several areas. We have integrated new tools to protect devices and continuously monitor infrastructure and code, reviewed all policies and access permissions, optimized the information contained in the various databases and added new levels of security at VPN and authentication levels.

In addition, we have set up a coverage model with which we can prepare for future events, which we are starting to finance with the current capital round and which we will include a cyber insurance in which we are working with the help of AON.

This is just the tip of the iceberg of continuous reinforcement, led by two key additions to the company: Carmen Pozo Grande as Head of Compliance and Risk and Luis Alberto Rodrigo Piqueras as CISO.

4- What do you think of the new attempts at crypto regulation in Spain?

It is inevitable that the crypto sector will be regulated. This is a good thing as long as it pursues goals such as investor and consumer protection or the fight against money laundering and terrorist financing. And as long as the great advances in this new technology are respected, like data protection and decentralization, and don’t harm the companies we decided to bet on this new world.

The good news is that regulation will be focused at the European level with the AML5 directive and now the MICA regulation proposal, which will make it much easier for companies like 2gether, who provide services across Europe, to adapt.

We have been evolving our organization towards AML5 and MICA for some time, so we are not concerned about that, on the contrary.

QQ: Has the number of people interested in cryptocurrencies increased after the pandemic?

RM: Definitely. The pandemic shows the shortcomings of the current economic system to respond to a harsh reality that we must live.

We have all been involved in the weaknesses in global supply chains, we have already seen countries default and enter hyperinflationary tensions. We are seeing central banks printing more money than ever before. We see the rise of populist governments with the loss of confidence that this implies in private property.

In this context, The movement of flows towards decentralized assets (that no one can take away from you), deflationary (that no one can artificially inflate), digital and global goods makes global sense and is actually happening.

It’s no coincidence that on the eve of an American election, Bitcoin is at a rally where candidates are talking about spending trillion dollars in the coming years.

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