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Hackers steal $42M from Fenbushi Capital founder’s wallet

8d ago
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General partner at Fenbushi capital Bo Shen tweeted on Nov. 23 that malicious players stole $42 million from his personal wallet on Nov. 10.

Shen revealed that most of the stolen crypto was $38 million in USDC. Several blockchain security firms revealed that the other stolen assets included Tether (USDT), Bitcoin (BTC), and Ethereum (ETH).

Shen reiterated that the stolen assets were his “personal funds” and had no effect on Fenbushi or related entities.

Blockchain security firm Beosin confirmed the incident. According to the firm, the hack was caused by a private key compromise.

Another blockchain security firm SlowMist said Shen’s Trust Wallet was compromised. SlowMist added that it verified that the wallet was the official version.

SlowMist noted that some of the stolen funds had been deposited to ChangeNow.

Shen has reported the hack to law enforcement agencies. He said both the FBI and his lawyers were already involved.

“Civilization and justice will eventually prevail over barbarism and evil. This is the iron law of human society. It’s just a matter of time.”

Shen hopes his case teaches security protection

The founder of the Asia-based blockchain-focused venture capital said he hopes his case will teach new and old users to do a “good job in security management.”

According to Shen, one of the early industry issues that must be dealt with included “misappropriating user funds, stealing coins, and zero tolerance for fraudulent account theft.”

He added that the hack would not dissuade him from supporting the blockchain industry.

The post Hackers steal $42M from Fenbushi Capital founder’s wallet appeared first on CryptoSlate.

8d ago
bullish:

1

bearish:

2

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