Eth and Augur Investor Hacked, Ethereum Price Dives Further
Eth continues to move from crisis to crisis with the latest blow to the digital currency the hacking of an early and significant investor, Bo Shen, Founding Partner of Fenbushi Capital, a $50 million blockchain focused venture capital fund by Wanxiang, one of China’s giant conglomerates. According to Jack Peterson, an Augur developer, someone gained access to Shen’s phone number by social engineering the telecom provider. They used that access to take over his e-mail via a recovery number method. Once they gain access to both, the hacker would have been able to access numerous service....
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A third of the stolen REP from the account of Bo Shen has been recovered according to Augur Co-Founder Jack Peterson, and he thinks more of the stolen tokens could still be retrieved as they continue to work with exchanges. An account belonging to Shen, one of the early investors in Ethereum and Augur, was reportedly hacked last Tuesday causing the Poloniex Augur market to bottom at the price level of 0.0001 BTC for one REP, despite the average price of 0.0035 in the previous period. The hacked wallet was a top 20 wallet by size in Augur and constituted a significant percent of the total....
An account belonging to Bo Shen, one of the early investors in Ethereum and Augur, was reportedly hacked on Tuesday causing funds from both networks to be drained. The hacked wallet was a top 20 wallet by size in Augur and constituted a significant percent of the total token supply. It was big enough to fill practically all the orders in the Poloniex buy side order book. The Poloniex Augur market has bottomed at the price level of 0.0001 BTC for one REP despite the average price of 0.0035 in the previous period. Poloniex tweeted that they have been investigating the Augur matter but have....
In the end, this goes to show any cryptocurrency holder is vulnerable to hackers, assuming that its what happened. People keeping a close eye on the Ethereum price may have noticed things are heading south. In fact, Augur’s REP token is following a similar trend. As it turns out, someone has – allegedly – hacked one of both currency’s “whales” and is dumping all associated coins. An excellent example why security matters, even to people such as Bo Shen. Both Ethereum and REP are going down the drain in quick succession on the exchanges. So-called “whales,” investors holding significant....
A notable blockchain industry investor was hacked today, the latest target in a string of apparent social engineering attacks that have taken aim at cryptocurrency users. The hackers claim to have stolen and liquidated 110,000 REP (upwards of $300,000) in the digital currency Augur plus an additional unknown sum of ether, the cryptocurrency on the ethereum blockchain, owned by Bo Shen, founder of VC firm Fenbushi Capital. Speaking via Shen's Twitter account, the hacker credited his sale with dropping the dollar value of Augur's digital asset Reputation (REP) from 0.0035 BTC (then roughly....
It's been a wild couple of days for the team at Augur. Just 48 hours into their crowdsale, which launched at noon EST on August 17, they have raised in excess of 4200 BTC and 549000 ETH. "Unfortunately, the ether and BTC price keep falling, so the buys can't keep up with the (USD) price," said Augur's marketing director, Tony Sakich. Bitcoin has dropped from $253 USD to around the $232 mark since the Augur sale began. It's a remarkable feat for a company that has a somewhat esoteric product, built on Ethereum, arguably an as-yet unproven blockchain platform. Ethereum's Frontier stage was....