As many holders will have seen, the EEA Life Settlements Fund PCC Ltd has suspended its NAV. The Fund has advised on the 24th of April that at likely hacking incident at the funds service provider (ViaSource Funding Group LLC) resulted in c. USD 5.3m being transferred out of the EEA account.
The fund previously reported on the 31st of December that they it held USD 23.6m, had a NAV of $33m and NDB of policies worth c. $66m
Taking out the immediate loss of $5m one can assume there is no discount effect, and so the NAV could reduce from c. $33m to $27.7m (a c. 17% decline in NAV). There may be a recovery of some of the funds and potentially a insurance recovery.
It also appears that the account was operated by ViaSource Funding, so they may be liable for the losses.
The below screen shot is from their circular: Full document here
fraud occured