The founder of Fenbushi Capital, Shen Bo, said that he was a victim of hackers. According to him, unknown cybercriminals stole more than $42 million worth of cryptocurrency assets from his wallet. He noted that he discovered the loss of virtual funds on November 10, 2022, but reported it only now.
According to the entrepreneur, there were various digital assets in his vault, but USD Coin (USDC) stablecoins in the amount of approximately $38 million prevailed. The investor said: now the Federal Bureau of Investigation (FBI) is studying this incident, as well as his lawyers, who are actively cooperating with law enforcement.
Security experts from SlowMist said they conducted their own analysis of the situation and found out that Shen Bo used the popular crypto wallet —Trust Wallet . The vulnerability that the attacker discovered lies not in the reliability problems of the software, but in the fact that the mnemonic access phrase that was stored on the entrepreneur’s mobile device was stolen by hackers.
Experts also noted that the stolen 38.1 million USDC were withdrawn by a businessman from the FTX US exchange shortly before the hack. Then the hacker exchanged these virtual assets for the DAI stablecoin on the Uniswap V3 trading platform.
