Bo Shen, a crypto venture capitalist, was hacked by hackers who stole $42 million worth of crypto from his private Ethereum wallet.
Bo Shen loses $42M
The hack took millions of dollars in digital assets from the wallet of the founder of the blockchain-focused venture investment firm. The stolen assets include stablecoins as well as cryptocurrencies. Bo Shen, one of the founding partners of Fenbushi Capital, disclosed that his Ethereum wallet was taken of $42 million. The hacker used a compromised private keys that blockchain security firm Beosin said was the cause of the attack.
October saw a series hacks and wallet exploits that resulted in losses of millions upon millions of dollars in digital assets. This earned it the title of Hacktober.
Mostly Stablecoins Theft; FBI Notified
According to onchain data, approximately $38 million of assets taken from Bo Shen’s wallet were stored in the stablecoin USDC. Tether (USDT), Uniswap(UNI), Reputation, REP and Liquity are the remaining assets. Bo Shen shared the details of the attack via Twitter. She also revealed that the incident was reported to local law enforcement along with lawyers, and the FBI.
He tweeted:

“A total value of 42M in crypto assets, including 38M USDC, were stolen from my personal bank account ending in 894 in early morning on November 10, EST. The stolen assets are personal funds and do not affect on Fenbushi related entities…Civilization and justice will eventually prevail over barbarism and evil. This is the iron law that governs human society. It’s only a matter of time.

Analysis by SlowMist
The above is all that was provided by the venture capitalist. He did not provide any additional details about the hack. SlowMist, a blockchain security firm, investigated the situation and found that Shen was using a non custodial Trust Wallet. The wallet seed phrase had also been compromised. They also clarified that Trust Wallet is not the problem. SlowMist also discovered the addresses of Shen’s ETH and TRX funds. It revealed that most of the funds were sent to the crypto-swapping platforms ChangeNOW or SideShift.
They tweeted

“4.13 $BTC + 100,000 USDT were deposited at ChangeNOW; 152.673.3397 USDT, 152.673.3397 USDT, and 200 DAI + 386.126 USDT were both deposited at SideShift.

SlowMist also issued a statement requesting that the attackers return the funds immediately.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

  

Bo Shen, a crypto venture capitalist, was hacked into his private Ethereum wallet by hackers. The hack took $42 million worth of crypto assets from his wallet. The stolen assets include stablecoins as well as cryptocurrencies. Bo Shen, one of the founding partners of Fenbushi Capital, disclosed that his Ethereum wallet was taken of $42 million. The hacker used a compromised private key, according to blockchain security firm Beosin. The month of October saw a series of hacks that led to the theft of millions of digital assets. This earned it the title “Hacktober.” The current attack on Bo Shen’s private key is enough to make the community nervous considering the market conditions. Mostly Stablecoins Steal; FBI NotifiedAccording the onchain data from the wallet’s wallet, approximately $38 million of the assets taken from Bo Shen were in the stablecoin USDC. Tether (USDT), Uniswap(UNI), Reputation, REP and Liquity are the remaining assets. Bo Shen shared the details of the attack via Twitter. He also revealed that the incident was reported to local law enforcement along with lawyers, and the FBI. He tweeted:
“A total value of 42M in crypto assets, including 38M USDC, were stolen from my personal bank account ending in 894 in early morning on November 10, EST. The stolen assets are personal funds and do not affect on Fenbushi related entities…Civilization and justice will eventually prevail over barbarism and evil. This is the iron law that governs human society. It’s only a matter of time.
Analysis by SlowMist. The above is the information that the venture capitalist shared with SlowMist. He did not disclose any additional details about the hack. SlowMist, a blockchain security firm, discovered that Shen was using a non custodial Trust Wallet. The wallet seed phrase was also compromised. They also clarified that Trust Wallet is not the problem. SlowMist also discovered the addresses of Shen’s ETH and TRX funds. It revealed that most of the funds were sent to the crypto-swapping platforms ChangeNOW or SideShift. They tweeted:
“4.13 $BTC + 100,000 USDT were deposited at ChangeNOW; 152.673.3397 USDT, 152.673.3397 USDT, and 200 DAI + 386.126 USDT were both deposited at SideShift.”
SlowMist also issued a statement requesting that the attackers return the funds immediately. Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.