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Source: Сointеlеgrаph

According to a new Twitter post on Nov. 23, Bo Sheng, general partner at venture capital fund Fenbushi Capital, advised by Vitalik Buterin, claims $42 million worth of funds were withdrawn from his Trust wallet on Nov. 10. in China, but now lives in Atlanta, says the funds were his personal assets and the exploit does not affect organizations associated with Fenbushi.

“The incident was reported to local law enforcement. The FBI and lawyers are involved in the case. Civilization and justice will ultimately defeat barbarism and evil. This is the iron law of human society. It’s just a matter of time.”

Later today, analytics firm SlowMist confirmed the exploit and said the cause of the theft was “compromised mnemonic words.” The firm also said that $38,233,180 in coins (USDC), 1,607 ether (ETH), 719,760 teters (USDT) and 4.13 bitcoins (BTC) were stolen from a combination of addresses belonging to Shen. The stolen funds were later transferred to the ChangeNow and SideShift exchanges.

“Additionally, during our investigation, we have confirmed that Trust Wallet @boshen1011 is the official version and not a fake wallet. Trust Wallet itself has no security issues associated with this theft.”

On Twitter, Shen thanked users for their comments and reaffirmed his “commitment to blockchain technology and decentralized services.” The last reported hack of Bo Shen’s wallets occurred on December 8, 2016, after hackers gained unauthorized access to a database backup from Shen, one of the first investors in Ethereum and Augur, leaked both tokens from his wallets, which were sent to the Poloniex instant exchange service. Since then, part of the funds has been returned.

Source: Сointеlеgrаph

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