BlockTower Capital with $1.7b in AUM reportedly ‘partially drained’

BlockTower Capital Targeted by Fraudsters

BlockTower Capital, a prominent crypto investment firm, has reportedly been targeted by fraudsters, resulting in a partial loss of funds from the firm’s main hedge fund. Founded by Matthew Goetz and Ari Paul, BlockTower Capital has allegedly suffered a “partial drain” of its main hedge fund due to this fraudulent activity.

Investments and Expansion of BlockTower Capital

Despite the recent setback, BlockTower Capital has established itself as a key player in the crypto industry since its inception in 2017. The firm has made strategic investments in various well-known companies within the crypto space, including Dapper Labs, Sky Mavis, and Terraform Labs. Additionally, BlockTower Capital recently raised $150 million for a new venture focused on decentralized finance and blockchain infrastructure companies, showcasing its commitment to growth and innovation.

Response and Recovery Efforts of BlockTower Capital

Following the incident, BlockTower Capital has taken proactive steps to address the theft, including engaging blockchain forensics analysts to investigate the matter. The firm has also notified its limited partners about the incident, demonstrating transparency and accountability in handling the situation. As the stolen funds have yet to be recovered and the perpetrator remains at large, BlockTower Capital continues to navigate the aftermath of this unfortunate event.

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