Hacker steals $42 million from Fenbushi Capital partner Bo Shen

Quick Take

  • Crypto venture capitalist Bo Shen said his Ethereum wallet was drained for $42 million.
  • Blockchain security firm Beosin added the exploit may have resulted from a compromised private key. 

Bo Shen, founding partner at Fenbushi capital, said his private crypto wallet was hacked in an incident on Nov. 10, which resulted in a $42 million loss of various crypto assets. 

The majority of the tokens, some $38 million, was taken in the stablecoin USDC. The rest of the stolen assets included tether (USDT), uniswap (UNI), reputation (REP), and liquity (LQTY) tokens, on-chain data from the wallet shows.

“A total of 42M worth of crypto assets, including 38M in USDC were stolen from my personal wallet ending in 894 in the early morning of November 10 EST,” Shen said in a tweet.

Shen said he reported the exploit to relevant law enforcement agencies. He clarified the stolen assets were personal funds and were separate from Fenbushi and its related entities. 

Blockchain security firm Beosin confirmed the exploit happened, explaining it likely resulted from 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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