BlockTower Capital's main hedge fund 'partially drained' in attack: Bloomberg

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The Block2024/05/15 07:52

By:The Block

The crypto investment firm’s main hedge fund has been compromised, Bloomberg reported — citing sources with knowledge of the matter. The undisclosed amount of stolen funds remained missing.

BlockTower Capital's main hedge fund 'partially drained' in attack: Bloomberg image 0

Crypto investment firm BlockTower Capital has seen its main hedge fund “partially drained” by fraudsters, according to a Bloomberg report citing sources familiar with the matter.

Bloomberg reported on Wednesday that BlockTower’s main hedge fund had been compromised, and the assets were still missing. The attacker has not been apprehended, and the firm did not disclose the specific amount of funds stolen.

BlockTower has hired blockchain forensics experts to investigate the case, according to the report. The firm did not immediately respond to The Block’s request for further comment.

In February 2023, BlockTower appeared to have lost $1.55 million of TrueFi tokens in an exploit, The Block reported at the time. Last year, the firm wound down a crypto fund that once managed over $100 million worth of assets, according to Bloomberg.

Founded in 2017, BlockTower has made investments in notable crypto or web3 firms, including Dapper Labs, Sky Mavis, Aptos Labs, according to data from Dealroom.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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