BlockTower, one of the major cryptocurrency hedge funds has suffered a major hack recently as fraudsters managed to partially drain from its total AUM. Sources familiar with the matter reported this incident while refusing to discuss further sensitive information. As per data provided by PitchBook, BlockTower has more than $1.7 billion in assets under management.
BlockTower Takes Corrective Measures
Currently, the hacker has absconded with the hedge fund yet to recover its lost money. However, BlockTower has employed blockchain forensics analysts in order to find the nature of the theft. They have also informed all their key partners about the recent heist, reported Bloomberg. However, the crypto hedge fund has yet to release any official statement regarding this matter.
Established in 2017, BlockTower operates from its offices in Miami and New York. The company has made strategic investments in various ventures, such as nonfungible token developer Dapper Labs, gaming studio Sky Mavis,
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