A significant crypto funding agency is reportedly the newest sufferer of a safety breach within the digital asset trade.
Bloomberg studies that hackers have compromised and partially drained the primary hedge fund of BlockTower Capital.
The institutional funding agency with $1.7 billion in property below administration (AUM) has made investments in a number of Web3 corporations, together with blockchain and non-fungible token (NFT) developer Dapper Labs, gaming studio Sky Mavis and the collapsed cryptocurrency agency Terra Labs.
The stolen funds are nonetheless lacking and the perpetrators haven’t but been arrested, however the agency already employed blockchain forensics analysts to learn the way the cash was stolen, in response to folks accustomed to the matter.
Final yr, BlockTower Capital additionally suffered almost $1.5 million in losses when hackers exploited the decentralized change aggregator Dexible and stole the crypto property of customers who approved the app to maneuver their tokens.
Hacking incidents proceed to plague the crypto area. In line with blockchain safety agency PeckShield, there have been over 600 major hacks within the crypto trade final yr, leading to round $2.61 billion in losses. Of those, solely $674.9 million have been recovered.
Final month, the crypto area suffered from round 40 hacks inflicting round $60.2 million in monetary losses.
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