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⛓️ Crypto🔴 BearishImportance 6/10Actionable
Fenbushi co-founder offers bounty to recover $42M lost in 2022 hack
🤖AI Summary
Fenbushi co-founder is offering a bounty to recover $42 million lost in a 2022 hack caused by a compromised seed phrase. Investigators have successfully frozen approximately $1.2 million of the stolen funds as part of ongoing recovery efforts.
Key Takeaways
- →Fenbushi co-founder has announced a bounty program to help recover $42 million lost in a 2022 cryptocurrency hack.
- →The hack was attributed to a compromised seed phrase that allowed attackers to breach the wallet.
- →Investigators have managed to freeze about $1.2 million of the stolen funds during the recovery process.
- →The incident highlights ongoing security risks associated with seed phrase management in cryptocurrency storage.
- →Recovery efforts are still active nearly two years after the initial breach occurred.
Read Original →via CoinTelegraph
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