Hacker snatches $42 million from crypto venture capitalist

Bo Shen, a crypto venture entrepreneur, said that $42 million was taken from his Ethereum wallet.

Bo Shen, a founding partner of Fenbushi capital, said that his private cryptocurrency wallet was compromised on November 10, resulting in a $42 million loss of multiple cryptocurrencies.

The bulk of tokens, almost $38 million, was acquired in USDC, a stablecoin. The wallet’s on-chain data indicates that the stolen assets also contained tether (USDT), uniswap (UNI), reputation (REP), and liquity tokens.

“A total of 42 million dollars worth of crypto assets, including 38 million dollars in USDC, were stolen from my personal wallet ending in 894 in the early hours of November 10 EST,” Shen tweeted.

Shen reported the vulnerability to the appropriate law enforcement officials. He explained that the stolen property consisted of personal money that was distinct from Fenbushi and its affiliated organizations.

Beosin, a blockchain security company, verified the attack and said it was likely the consequence of a “private key breach.” Beosin noted that after getting unauthorized access to the wallet, the hacker transferred all of its funds to two Ethereum addresses under their control.

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