Cryptobilis Founder Says Company Was Sold Before Device Exploit

Cryptobilis founder Arravind Prabu said the company was acquired by an unnamed buyer earlier this year, months before an exploit involving tampered devices, according to Bitcoin.com News.

Prabu acknowledged helping the current management team with some events. However, he said that involvement did not give him visibility into the company’s day-to-day operations.

The founder denied responsibility for the tampered-device exploit. The source excerpt does not provide details about the buyer, the acquisition terms or how the exploit occurred.