Ripple acquires Fortress Trust after security incident: Financial technology company Ripple took over Fortress Trust on Sept. 8 following a security breach involving a third-party analytics vendor. The incident led to the loss of $12-15 million, mostly in Bitcoin, intensifying acquisition discussions between the two companies. Ripple, an investor in Fortress since 2022, stepped in to make customers whole. The takeover sparked controversy in the crypto community, with BitGo CEO Mike Belshe accusing Fortress of downplaying the event. Ripple plans to further invest in Fortress' group, including ongoing discussions with parent company Fortress Blockchain Technologies and FortressPay.