Police said the man suffered serious injuries and CPR was performed at the beach, but he was later pronounced dead at Cape Cod Hospital.
Skomal believes the shark likely mistook Medici for a seal, which are often close to shore along Cape Cod's beaches.
At Newcomb Hollow Beach, the site of Saturday's incident, beach goers are greeted by a sign warning them to "Be Shark Smart", according to a local CBS affiliate. Details of his injuries have not been released, the Daily Mail reported.
Pretty sad day at the beach today.
Witnesses say an off-duty lifeguard jumped into action and tried to save the man's life before rescue crews arrived. Prayers to him and his family, ' Jacobs captioned his video.
Wellfleet police Lt. Michael Hurley told The Associated Press that the victim was a man in his mid-20s, but his identity has not been disclosed.
Following the vicious attack the beach was closed.
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"The town beaches are closed to swimming for the next 24 hours", the police said. Then the other boogie boarder, possibly Medici's brother, dragged the injured man to the sand.
Police responded on the scene immediately after the bite.
People were screaming to call 911 and alert authorities that there was a shark attack, he said.
"This has turned into Amity Island real quick out here", referring to the fictional location of the movie, which was filmed 100km away at Martha's Vineyard.
On August 15, a 61-year-old NY man was severely injured after fighting off a shark off Truro, about four miles north of Saturday's attack.
Rep. Bill Keating (D-Mass.) wrote on Twitter: "First and foremost, Tevis and I send our condolences to the family of Arthur Medici, the victim of yesterday's shark attack". Mr Medici was attacked around noon as he and a friend were body boarding.