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Blockchain Capital founder lost $6.5M crypto assets: Sim swap attack 

Blockchain Capital founder lost $6.5M crypto assets: Sim swap attack  8

Three months back, Bart Stephens faced a sim swap attack & lost nearly $6.5 million worth of crypto assets.

Blockchain Capital is a VC firm, founded by Bart Stephens in 2013. This was the first VC in the world, which was focused to invest in the crypto & blockchain sector. People can invest in this firm by purchasing its tokenized shares. In 2017, Blockchain Capital invited people to invest in this firm as an alternative form of ICO & also grabbed huge popularity, as the company succeeded to raise $10 million in just six hours. At present there are nearly 170+ founders behind this VC firm.

On 21 Aug 2023, Forbes reported that Blockchain Capital’s founder faced a sim swap attack in May of this year. 

Through the attack, the attacker successfully changed his crypto-related account passwords and drained $6.5 million worth of crypto assets. 

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The hacker used the username “Jane Doe” to conduct this sim swap attack and also used some cyber tools available on the Dark Web to bypass the security checks easily without leaving any identity.

To catch the main culprit behind this whole incident, Bart filed a legal action against the hacker in the United States District Court for the Northern District of California on August 16

The lawsuit read that the hacker claimed that he can easily control/hack the cell phones of people located in the mainland US. The hacker also allegedly tried to steal $14 million worth of Ethereum (ETH) but the Blockchain Capital team successfully froze the account.

It is worth it to note that, in the recent two years hackers showed a huge inclination toward sim swap attack methods to steal crypto assets. 

Read also: SEC charges Titan Global Capital Management over 2,700% Returns On Crypto Investment promo

Blockchain Capital founder lost $6.5M crypto assets: Sim swap attack



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