Venture capitalist Bo Shen hacked: $42M stolen

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Blockchain
<strong>Venture capitalist Bo Shen hacked: $42M stolen</strong>

Venture capitalist, Bo Shen, was hit by a hack that left him with $42 million less in his portfolio.

Shen wrote in a Nov. 23 Twitter thread that he lost a total of $42 million of crypto assets to a hack — including $38 million in USD Coin stolen from his personal wallet in early morning on Nov. 10. He highlighted that the stolen funds were personal holdings and that the hack has no impact on Fenbushi Capital’s assets.

Shen also wrote that he already reported the incident to local law enforcement authorities and that the Federal Bureau of Investigation and lawyers have already been involved. He stated:

“Civilization and justice will eventually prevail over barbarism and evil. This is the iron law of human society. It’s just a matter of time.

The news follows recent reports that the FTX requested other cryptocurrency exchanges for assistance in recovering funds that were stolen from the platform before its bankruptcy.