HomeNewsDeFiance Capital Founder becomes the victim of a $1.6M Hot wallet Hack

DeFiance Capital Founder becomes the victim of a $1.6M Hot wallet Hack

In an unfortunate incident, founder of the major crypto investment firm DeFiance Capital loses $1.6 Million due to a hack on its hot wallets. “Arthur_0x” has lost the total amount from his wallet which contained crypto as well as NFTs.

As an attempt to support the individual, the crypto community came together in order to help retrieve the stolen items. Moreover, the founder has requested people to blacklist the hacker’s wallet. Besides this, individuals across Twitter have attempted to determine the events before the hack took place. Through this, they’re trying to figure out how the hacker was able to steal those funds.

An NFT community member “Cirrus” had bought two of the stolen Azuki NFTs which he has decided to return to Arthur at cost. Speaking about the incident, he said:

“I found out they were hacked, and instead of selling them for profit like the other folks who got some of his, decided I’d sell them back to him at cost to help him out.”

Moreover, Cirrus added that he has witnessed such incidents before. He had been the victim of various rug-pulls in the industry. All of this guided him to help the victim with his unfortunate incident.

For those who don’t know, A rug-pull is an incident when a particular crypto or NFT project closes without any prior warning. This basically confirms that the project is a scam.

All in all, this hack imparts the importance of operational security when dealing with crypto assets. This also shows that people at even the highest levels in the industry can face such unfortunate incidents.

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