Crypto Venture Capitalist Bo Shen Losses $42 Million In Private Wallet Hack

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.

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