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

Shen emphasised that the missing money was his “personal money” and had no bearing on Fenbushi or associated companies.

Updated: November 24, 2022 14:59 IST

According to Cryptoslate, the majority of the stolen cryptocurrency, according to Shen, was million in USDC. Tether (USDT), Bitcoin (BTC), and Ethereum were among the other stolen assets

But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters.

Bo Shen, a general partner at Fenbushi Capital, tweeted on November 23 that thieves stole $42 million on November 10 from his personal wallet, as reported by Cryptoslate.

According to Cryptoslate, the majority of the stolen cryptocurrency, according to Shen, was $38 million in USDC. Tether (USDT), Bitcoin (BTC), and Ethereum were among the other stolen assets, according to several blockchain security companies (ETH).

Shen emphasised that the missing money was his “personal money” and had no bearing on Fenbushi or associated companies. Beosin, a blockchain security company, acknowledged the incident. The company claims that a compromised private key was to blame for the hack, Cryptoslate noted.

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