Bo Shen Offers 10–20% Bounty to Recover $42M Stolen From His Wallet

Bo Shen reboots hunt for $42M stolen from his wallet, offers 10–20% recovery bounty Bo Shen, co-founder of Fenbushi Capital, has relaunched efforts to recover roughly $42 million in crypto that was taken from his personal wallet in 2022 — and he’s dangling a sizable bounty to accelerate the hunt. Shen says he will pay between 10% and 20% of any recovered funds to individuals or organizations that make a material contribution to the recovery. Shen confirmed that onchain investigators ZachXBT and Taylor “Tayvano” Monahan have already helped freeze about $1.2 million linked to the theft. He also said rewards will be distributed after recovery is completed. Background and what was taken Shen first disclosed the breach in November 2022, saying attackers drained roughly $42 million from his personal holdings. He has stressed the stolen assets were his personal property and did not affect Fenbushi Capital or its related entities — an important legal and investigatory distinction because the focus is on funds from a private wallet rather than company-controlled assets. Blockchain security firm SlowMist later attributed the theft to a compromised mnemonic seed phrase. SlowMist’s breakdown of the stolen assets lists about $38.2 million in USDC, 1,607 ETH, nearly 720,000 USDT and 4.13 BTC. Why recovery stalled — and why it’s restarting Early recovery attempts were hampered by asset movements through services such as ChangeNow and SideShift and by the limits of cross-chain tracing tools available in 2022. Those gaps made it difficult for investigators to follow funds as they moved across chains and through intermediaries. Shen says developments in AI-powered analysis and improved onchain forensics have produced “new leads” and a “clearer picture” of how the funds moved after the hack, prompting the renewed push and the bounty offer. Next steps Investigators are revisiting the case with updated tracing tools and fresh intelligence. Shen’s bounty is intended to incentivize outside expertise and tipsters who can materially aid asset recovery. He will award the bounty — 10% to 20% of recovered amounts — once assets are successfully reclaimed. Read more AI-generated news on: undefined/news