"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."
"More than 1,200 days later, Shen said improved blockchain analytics and artificial intelligence (AI) tools have made the stolen asset flow paths significantly clearer."
"The drained assets were funneled through mixing services before being converted into other tokens, with some flows ending in DAI."
"Onchain investigator ZachXBT and security researcher Tayvano have already assisted in freezing approximately $1.2 million in related assets."
On November 10, 2022, a theft of $42 million in crypto assets occurred from Shen's wallet due to a compromised mnemonic seed phrase. The stolen assets included USDC, ETH, USDT, and BTC. Shen's venture firm, Fenbushi Capital, was unaffected. Despite initial challenges in tracing the stolen funds, advancements in blockchain analytics and AI have improved clarity on the asset flow. Collaborations with on-chain investigators have led to the freezing of $1.2 million in related assets, with ongoing efforts to recover the stolen funds.
Read at news.bitcoin.com
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