Algo Capital public cold wallet stolen details and treatment plan: some tokens flow to the coin wallet, FBI has been involved

On October 15, Algo Capital released details about the theft of the former CTO wallet. The blog said that on September 26, Pablo Yabo, former chief technology officer of Algo Capital, said that several of the wallets he managed had been stolen. This led to the theft of $1.9 million to $1.5 million, of which $1.5 million was placed in a wallet owned by a venture capital fund sponsored by Algo Capital, and the rest was placed in other Algo Capital wallets and Yabo's personal wallet. Due to a bug, the hacker can access a temporary decrypted file to be able to access the recovery seed backup, and then the hacker can access the funds in these wallets. In a very short period of time, hackers may transfer stolen Algos to several coin-side wallets, apparently trying to liquidate these assets. According to the currency, all accounts related to the incident have been quarantined. Algo Capital also reported the incident to the FBI and worked with the local Federal Bureau of Investigation in Atlanta, which is investigating the case. Due to this incident, Yabo took the initiative to resign from the company and was approved. Yabo also agreed to repay a large portion of the losses to the Fund. In addition, the announcement concludes that Algo Capital is not affiliated with Algorand Inc, Algorand LLC, Algorand Foundation or any of its subsidiaries.