Hackers have stolen $42m worth of crypto from a wallet controlled by blockchain venture capitalist Bo Shen, the founder of Fenbushi Capital.
News of the theft was shared by Bo Shen himself on Twitter on Wednesday, with Shen saying that the theft took place on November 10 from his personal crypto wallet. He insisted that no company property was involved in the theft.
“A total of 42M worth of crypto assets including 38M in USDC were stolen from my personal wallet,” Shane wrote. He said the incident had already been reported to local police, and added that the FBI was also involved.
agreement with mnemonic words
Investigating the incident, blockchain security firm Slow Mist shared further details about the theft on Twitter, explaining that the reason for the theft was that the mnemonic words were compromised.
The security firm said in a Twitter thread that the wallet used was Trust Wallet, a popular mobile wallet that supports a large number of cryptocurrencies. Trust Wallet is now owned by Binance after being acquired by the exchange in 2018.
Overall, 38.2 m usdc1,607 ETH719,760 usdt and 4.13 B T c Slow Mist’s tweet states that the affected Bo has disappeared from Shen’s wallet.
“We are working to make further progress on this theft, and with the FBI and attorneys already involved, we are asking the hackers to return the money as soon as possible,” the firm wrote, providing a snapshot of the transaction flow. Wrote Stolen sharing a detailed overview:
trust wallet token soar
Despite the alleged theft, the price of Trust Wallet’s own TWT token remained largely unchanged on both Wednesday and Thursday of this week.
The slow action for the coin followed a massive bull run two weeks ago, when TWT surged from $1.9 to a high of $2.7 in just a matter of three days, and Posting 92% Profits in One Week,
TWT is a top 50 crypto asset in CoinMarketCap’s ranking, with a current market capitalization of $910m.
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