Bo Shen offers 10%-20% bounty to recover $42M from 2022 hack
Fenbushi Capital co-founder Bo Shen is offering a 10%-20% bounty to help recover about $42 million stolen from his personal wallet in 2022, as investigators have frozen roughly $1.2 million tied to the theft.
Fenbushi Capital co-founder Bo Shen offered a 10%-20% bounty on funds recovered from a 2022 wallet breach that drained about $42 million from his personal holdings. Investigators have frozen roughly $1.2 million linked to the theft.
Under the offer, individuals or organizations that make a substantial contribution to tracing, freezing, or returning assets will be eligible for a payout once funds are recovered. In an update, Shen credited on-chain investigators ZachXBT and Taylor “Tayvano” Monahan with work that helped identify and freeze about $1.2 million connected to the case.
The breach was first disclosed in November 2022, when Shen reported that about $42 million had been stolen from his personal wallet. He indicated at the time that the loss did not affect Fenbushi Capital or related entities.
Blockchain analytics firm SlowMist later attributed the theft to a compromise of Shen’s mnemonic seed phrase, the backup used to restore access to a crypto wallet. According to SlowMist, the stolen funds included about $38.2 million in USDC, 1,607 ether, nearly 720,000 tether (USDT), and 4.13 Bitcoin. The assets were moved through services including ChangeNow and SideShift.
Shen stated that investigators have developed new leads and a clearer map of how the funds flowed across networks and platforms. He pointed to advances in AI-driven data analysis and on-chain forensics that improve fund tracing across multiple blockchains and help recover stolen crypto, while cautioning that recovery is not guaranteed.
His team plans to distribute bounty payments after the recovery process concludes. Shen invited contributions from researchers, exchanges, and compliance teams that can assist with tracing, freezing, or returning assets.
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