Hong Kong based digital currency exchange Gatecoin has provided new updates on the ongoing Gatecoin hot wallet breach investigation. Last week, the company announced in an online post that it has lost ETH 185,000 and BTC 250 (equivalent to USD 2 million), and representing 15% of its crypto-asset deposits, in the hot wallet breach.

In a new Reddit post, CEO Aurélien Menant has provided additional information on the matter. He said that all client data is safe and secure, as Gatecoin’s databases’ servers were unaffected during the breach.

With regard to the investigations, Menant stated that a full report has been filed with Hong Kong Police Department, adding that Gatecoin is also in touch with cybercrime divisions to initiate a deeper investigation. To that end, he added that Gatecoin has also shared its intelligence on the malicious actors responsible for the breach with Europol, Interpol and major cryptocurrency exchanges.

“The investigation is taking longer than expected as our technology team has been focusing on boosting security for the other crypto-assets and settling the DAO”, Menant said.

He further said that major progress has been made on the fundraising effort, with several individuals and organizations offering investment in exchange for equity. Menant said that they are close to finalizing agreements with them and emphasized that the investment would be first used to compensate for the stolen ETH and BTC, and ensuring that all Gatecoin clients are able to process their ETH and BTC withdrawals as soon as possible.

“Once all clients have successfully processed their withdrawals, the remaining investment funds would be used to strengthen Gatecoin’s technology team, with the aim of eventually re-launching the exchange with a new array of services, supported by a brand new security infrastructure”, he added.

Menant expects to offer withdrawals for all clients’ ETH funds on May 28. However, he added that the exact date when withdrawals for ETH will be available could not be confirmed at the moment, as they are still in the process of raising funds to cover the stolen ETH and BTC.

For BTC withdrawals, he said, “You will now be able to withdraw BTC on May 28. We will provide another update next week as to whether this will be withdrawals of 95% of your BTC funds or the full amount.”

He added that all DGD tokens that were sent to Gatecoin are safe and held in escrow by Aurel Iancu, a reputable public figure in the Ethereum community.

In addition, Gatecoin announced a bounty of 25% and lifetime free trading on Gatecoin for the return of any ETH and BTC that was stolen.

“Whether this is acquired from the hackers directly or through other channels, we don’t really care as long as you can prove these were from the pool of funds stolen from us”, Menant added.

About getting Gatecoin’s services back online, he said their first priority is ensuring that they can reimburse all of their clients. He added, “We will not even consider re-launching the exchange until we have succeeded to repay everyone.”