BlockTower Capital, a prominent crypto investment firm managing $1.7 billion in assets, has fallen prey to fraudsters who have partially drained its primary hedge fund. According to reports, the stolen funds have not been recovered, and the perpetrator remains at large. The firm has engaged blockchain forensics experts to investigate the theft and has informed its partners about the incident.

This development highlights that even major investment firms are not immune to threats that typically target retail investors. Interestingly, BlockTower Capital had previously lost nearly $1.5 million in February due to the exploit of decentralized exchange aggregator Dexible. The wallet address linked to the Dexible exploiter drained approximately $1.5 million in TRU tokens from a wallet identified as BlockTower's.

In addition to BlockTower's exploit, Sonne Finance, a lesser-known decentralized lending protocol, was also exploited, resulting in $20 million in losses. Sonne Finance discovered the issue 25 minutes after the exploit occurred and, although they couldn't recover the funds, are investigating the exploiter's identity. The protocol has offered a bounty to the exploiter and has committed to not pursuing the matter further if the funds are returned.

These incidents serve as a reminder of the risks and vulnerabilities in the crypto space, even for major investment firms and protocols. It is crucial for investors and firms to remain vigilant and take necessary measures to protect their assets.