A general partner of Fenbushi’s capital, Bo Shen, tweeted on Nov. 23 that malicious players stole $42 million from personal wallets on Nov. 10.
A total of 42 million crypto assets, including USDC 38 million, were stolen from my personal wallet ending at 894 in the early hours of November 10th.
The stolen assets are personal funds and do not affect Fenbushi related entities.
— Bo Shen (@boshen1011) November 23, 2022
Shen revealed that most of the stolen crypto was worth $38 million in USDC. Multiple blockchain security firms have revealed that other stolen assets include 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 company Beosin Confirmed Incident. According to the company, the hack was due to a private key compromise.
Another Blockchain Security Company SlowMist Said Shen’s Trust Wallet has been compromised. SlowMist added that it confirmed the wallet was the official version.
3/
-> 4.13 $BTC +100,000 $USDT entrusted to @ChangeNOW_io
-> 152,673.3397 USDT Deposited @ChangeNOW_io
-> 200 DAI + 386,126 USDT Deposited @sideshiftai pic.twitter.com/HUy0rPYM1i— Slow Mist (@SlowMist_Team) November 23, 2022
SlowMist noted that some of the stolen funds were credited to ChangeNow.
Shen reported the hack to law enforcement. He said both the FBI and his attorney were already involved.
“Civilization and justice will eventually triumph over savagery and evil. This is the cardinal rule of human society. It’s only a matter of time.”
Shen hopes his case teaches security protections
The founder of the Asia-based blockchain-focused venture capital firm hopes his case will teach new and old users to “do a good job at security management.”
Secure protection: Full digitization is massive, initial traffic randomness occurs, and the following must be used: Old soldiers, public robbery cases, new old soldiers good security management.
— Bo Shen (@boshen1011) November 23, 2022
According to Shen, one of the early industry issues that had to be addressed was “zero tolerance for misappropriation of user funds, coin theft, and fraudulent account theft.”
He added that hacking is not a deterrent from supporting the blockchain industry.
I initially thought that the protocol layer would be new, so as to support the decentralization of the promotion of zone technology, the space of the application layer would be freed up, and contribute to social value in the long run to contribute to health. There is no change.
— Bo Shen (@boshen1011) November 23, 2022
