🚨 BlockTower Capital Suffers Losses in Hack 🚨
Major investment firm BlockTower Capital has been hit by a significant hack, resulting in substantial losses. Here are the key details:
Incident Overview: BlockTower Capital's main hedge fund was compromised, with assets partially drained by fraudsters. The firm, which manages $1.7 billion in assets, has yet to recover the stolen funds or apprehend the hacker.
Investigation Underway: Blockchain forensics analysts have been employed to determine how the money was stolen. BlockTower has informed its limited partners about the incident but declined to comment publicly.
Industry Impact: This hack is part of a broader trend, with fraudsters stealing about $1.7 billion from crypto projects last year alone, according to TRM #labs .
Company Background: Founded in 2017, BlockTower Capital has offices in Miami and New York. The firm has invested in notable companies, including Dapper Labs, Sky Mavis, and #TerraformLabs .
Previous Challenges: This is not the first setback for #BlockTower . Last year, the firm wound down its “market-neutral” crypto fund, which previously oversaw more than $100 million.
