As an analyst with extensive experience in the cryptocurrency and blockchain industry, I find the recent developments surrounding BlockTower Capital’s hedge fund and the exploit of decentralized exchange aggregator Dexible deeply concerning. These incidents serve as stark reminders that even established players in the crypto space are not immune to threats that can cause significant financial losses.
Fraudsters have successfully depleted a portion of the assets in BlockTower Capital’s main hedge fund.
Based on Bloomberg’s account, the stolen funds are still missing, and the thief has not been apprehended. Nevertheless, a reliable insider disclosed that the company has enlisted the help of blockchain investigators to trace the stolen assets. Moreover, they have reportedly updated their partners regarding this unfortunate occurrence.
- The latest development suggests that even a major investment firm is not immune to threats that mostly prey on retail investors.
- Interestingly, BlockTower Capital lost nearly $1.5 million after the exploit of decentralized exchange aggregator Dexible last February.
- The wallet address in question linked to the Dexible exploiter drained approximately $1.5 million in TRU tokens from a wallet identified as BlockTower’s by Arkham Intelligence. Nansen also confirmed the wallet was labeled as BlockTower Capital.
- The company shut down its “market-neutral” crypto fund last year due to a shortage of viable investment opportunities.
- In addition to BlockTower’s exploit, a lesser-known decentralized lending protocol called Sonne Finance was also exploited that resulted $20 million in losses.
- In its post-mortem report, Sonne stated that its team discovered the issue 25 minutes after the exploit occurred. Although they couldn’t recover the funds, the investigation into the exploiter’s identity is currently underway.
- The protocol also mentioned they are willing to offer a bounty to the exploiter and commit to not pursuing the matter further if the funds are returned.
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2024-05-15 13:32