$1.7M in NFTs Stolen From Crypto VC by Hackers

On Monday night, Arthur Cheong—the founder of DeFinance Capital, a crypto-centric VC fund—had about $1.7 million worth of NFTs stolen from his wallet in what appears to have been a social engineering attack. “Well not sure what happened, need to take time to figure it out. Didn’t expect this to happen to me as well,” Cheong tweeted. “Guess no more hot wallet usage then,” he said, referring to crypto wallets that are connected to the internet. “Found out the likely root cause for the exploit, it’s a targeted social engineering attack,” he tweeted on Tuesday morning. “Received a spear-phishing email that really seems to be sent by one of our portco [portfolio companies] with content that seems like general industry-relevant content.”

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