Shen is what cryptocurrency experts call a “whale”, meaning a person or organization that holds so much of a cryptocurrencys value he can influence its price when moving funds. According to cryptocurrency specialists, this “whale” status made maintainers of the Augur cryptocurrency take notice that something odd was happening after the overall Augur trading price had abruptly fallen on December 6, 2016, according to Bleeping Computer.
A few hours later, Jack Peterson, a developer for the Augur cryptocurrency, announced on Twitter that someone hacked Bo Shens phone, took over his email address, and then his cryptocurrency accounts. This action allowed the hacker to move some of Shens funds, the online publication continues. According to Peterson, the hacker had dumped large amounts of Augur and Ether, which affected the trading price for both currencies.
Moreover, Shen admitted the hack to CoinDesk. The Chinese venture capitalist didnt provide exact details of how much the hacker had stolen but said the attacker managed to steal less than USD 1 million worth of Ether.
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