Scott Purcell, founder and CEO of crypto custody platform Fortress, has resigned following widespread personnel issues, according to the Daily Planet. The decision comes on the heels of a hack in early September that cost Fortress around $14 million to $15 million in customer funds. Ripple later compensated customers.
In addition, Fortress has laid off at least six employees, most of whom were in the sales department. Purcell confirmed his departure when asked for comment and said Fortress has hired a new CEO, Rich Hauschild, the former COO of crypto investment firm iTrustCapital. Purcell said he will continue to serve on the board of Fortress' parent company.
