Bo Shen, co-founder of Fenbushi Capital, has offered a bounty to help recover roughly $42 million in digital assets stolen from his personal wallet in a 2022 hack.
Shen said he is offering a reward of 10% to 20% of any recovered funds to individuals or organizations that make meaningful contributions to retrieving the assets. He noted that onchain investigators ZachXBT and Taylor Monahan have already helped freeze around $1.2 million tied to the theft, with rewards to be distributed once recovery efforts are complete.
The bounty brings renewed attention to the case Shen first disclosed in November 2022, when approximately $42 million in crypto was drained from his personal wallet. He emphasized at the time that the stolen funds were personal and did not impact any entities associated with Fenbushi.
Blockchain analytics firm SlowMist later determined that the breach stemmed from a compromised mnemonic seed phrase. Shen said the renewed recovery push follows new investigative leads and a clearer understanding of how the stolen funds were moved, though the outcome remains uncertain.
SlowMist reported that the stolen assets included roughly $38.2 million in USD Coin, 1,607 Ether, nearly 720,000 Tether, and 4.13 Bitcoin. The funds were later routed through exchanges such as ChangeNOW and SideShift.
Bo Shen said that when the hack occurred in 2022, onchain tracking and security investigation tools were still relatively underdeveloped, making it difficult to trace funds across different blockchains and platforms.
He noted that recent advances—particularly in AI-driven data analysis and blockchain forensics—have significantly improved investigators’ ability to track asset flows and detect transaction patterns. Shen added that the renewed effort could serve as a test case for how modern tools and coordinated approaches can aid long-running investigations.
Despite these improvements and new leads, he cautioned that recovering the stolen assets remains uncertain.
