Market News- Bo Shen provided an update around the ongoing analysis on Twitter.
- Shen’s personal account was conned of $42 M, including USD Gold coin along with other cryptocurrencies.
- The seed phrase was utilized to gain access to Shen’s wallet address and steal his digital assets.
In November 2022, Bo Shen, the overall partner of Fenbushi Capital, had his cryptocurrency assets stolen from his wallet address. Presently, he released an announcement addressing this unfortunate incident.
Bo Shen, an earlier investor in cryptocurrency, required to his official Twitter account to supply an update around the ongoing analysis in to the stolen cryptocurrency assets. Based on him, the analysis continues to be going ahead, and government bodies will work difficult to resolve the problem.
In addition, Bo Shen refuted any claims he was the one that approved the transaction and expressed his confidence in the LQTY token holdings.
Stolen assets from last November continue to be underactive analysis by everyone concerned.
Unauthorized transactions within the stolen wallet, such as the purchase of #LQTY, weren’t performed by me.
I maintain lengthy-term confidence in #LQTY, haven’t offered any, and continue to…
— Bo Shen (@boshen1011) April 16, 2023
SlowMist Confirms Wallet Compromise in Bo Shen’s Situation
Sources acquainted with the reports have established that Shen’s personal account was conned of $42 million. Correspondingly, which incorporated $38 million in USD Gold coin (USDC) along with other cryptocurrencies. Shen, the founding father of Fenbushi Capital, mentioned the stolen amount belonged to his personal wallet addresses. Also, it’d no link with Fenbushi Capital or any related entities.
In the statement, Shen pointed out that law enforcement was investigating the thievery of his funds. Furthermore, he’s advised the crypto community to cooperate with him in identifying the online hackers accountable for the crime.
Being an incentive, he’s announced a bounty to become rewarded to anybody who are able to provide valuable information which aids the analysis. Therefore, Shen is positively seeking the help of the city to apprehend the perpetrators and recover his stolen assets.
SlowMist, a blockchain security company, investigated and figured that the hacker compromised Shen’s crypto wallet seed phrase to gain access to and steal his digital assets. Obviously seed phrase was utilized to gain access to Shen’s wallet address and transfer digital assets from the wallet.
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