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Understanding the Shen Bo Theft Incident: A Look at the Beosin EagleEye Security Risk Monitoring Platform

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According to reports, on April 16, 2023, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit co

Understanding the Shen Bo Theft Incident: A Look at the Beosin EagleEye Security Risk Monitoring Platform

According to reports, on April 16, 2023, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit company Beosin, the attacker of the distributed capital founding partner Shen Bo’s theft incident, 0x376A02550BE2A6a39803fB17aFa550cab5b820ca, exchanged 650 ETHs for USDT and sent them to the WhiteBIT centralized exchange. In addition, the attacker of Shen Bo’s theft incident sold 557140 previously stolen LQTY tokens, Currently, the funds deposited through the sale of LQTY tokens are located at the address 0x1D43f19852FfA9ca5F2343E89f408BcbFA698a7E. Beosin Trace will continue to monitor the direction of funds. Previously, on November 23, last year, Shen Bo stated on Twitter, “Individuals commonly use 894 ending wallets with a total value of $42 million in assets, including 38 million USDCs that were stolen in the early hours of November 10 New York time. The stolen assets are personal funds and are not related to distributed related funds

Distributed capital founding partner Shen Bo’s stolen funds have been transferred 650 ETHs by attackers

On April 16, 2023, the blockchain security audit company Beosin EagleEye detected unusual activity on their security risk monitoring, warning, and blocking platform. The platform had detected an attacker of the distributed capital founding partner Shen Bo’s theft incident, 0x376A02550BE2A6a39803fB17aFa550cab5b820ca, exchanging 650 ETHs for USDT and sending them to the WhiteBIT centralized exchange. Additionally, the attacker sold 557140 previously stolen LQTY tokens.
This incident serves as a reminder of the importance of blockchain security and how vulnerabilities can lead to costly consequences.

The Shen Bo Theft Incident

On November 10, 2022, over $42 million in assets, including 38 million USDCs were stolen from Shen Bo’s personal wallets. Shen Bo clarified that these stolen assets were his personal funds and not related to the distributed related funds.
Since then, Beosin Trace has been monitoring the direction of funds used in the attack. On April 16, 2023, their monitoring platform detected the attacker’s activity.

Beosin EagleEye Security Risk Monitoring Platform

Beosin EagleEye is a security risk monitoring, warning, and blocking platform providing 24/7 monitoring for decentralized finance (DeFi) platforms and protocols. Its monitoring system is designed to detect and report any unusual activity, such as attempts to steal user credentials, transfer funds, or exploit vulnerabilities.
Beosin Trace, an integrated solution of Beosin EagleEye, is a blockchain traceability system that enables users to track and monitor funds on the Ethereum blockchain. This system played a critical role in capturing the latest development of the Shen Bo theft incident.

Current Status of the Attack

On April 16, 2023, the attacker exchanged 650 ETH for USDT and sent them to the WhiteBIT centralized exchange. All previously stolen LQTY tokens had also been sold, and the funds deposited from the sale of the tokens are now located at the address 0x1D43f19852FfA9ca5F2343E89f408BcbFA698a7E. Beosin Trace will continue to monitor the direction of funds.
Although the attacker’s identity remains unknown, this incident serves as a reminder that blockchain security should always be a top priority.

Conclusion

The Beosin EagleEye security risk monitoring platform is a powerful tool in the fight to secure blockchain transactions. The platform’s advanced monitoring system has helped detect and report the Shen Bo theft incident, ensuring that the funds’ direction is monitored closely.
In the ever-evolving landscape of cryptocurrency, it is essential to remain vigilant and take necessary measures to secure your digital assets. Blockchain technology continues to revolutionize the way we transact, but these advancements come with the risk of theft and fraud. By utilizing tools like Beosin EagleEye, we can mitigate these risks and ensure the security of our funds.

FAQs

#Q. What is the Beosin EagleEye Security Risk Monitoring Platform?

A. The Beosin EagleEye Security Risk Monitoring Platform is a security threat detection and monitoring system for decentralized finance (DeFi) platforms and protocols. It helps to detect and report any unusual activity, such as attempts to steal user credentials, transfer funds, or exploit vulnerabilities.

#Q. What is Beosin Trace?

A. Beosin Trace is an integrated solution of the Beosin EagleEye Security Risk Monitoring Platform that enables users to track and monitor funds on the Ethereum blockchain.

#Q. What happened in the Shen Bo theft incident?

A. On November 10, 2022, over $42 million in assets, including 38 million USDCs, were stolen from Shen Bo’s personal wallets. The attacker’s identity remains unknown, but on April 16, 2023, the attacker sold previously stolen LQTY tokens and exchanged 650 ETH for USDT, sending it to the WhiteBIT centralized exchange.

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