Fenbushi capital’s co-founder Bo Shen has told law enforcement agencies that his private crypto wallet was hacked in on Nov. 10.
Shen lost $42 million worth of various crypto assets to the hack.
Shen lost some $38 million in the stablecoin USDC. The rest of the stolen assets included tether (USDT), uniswap (UNI), reputation (REP), and liquity (LQTY) tokens.
Blockchain security firm Beosin described the exploit as a "private key compromise."
The hacker, after gaining illegitimate access to the wallet, drained all of its assets to two Ethereum addresses under their control, Beosin added.