Fenbushi Capital co-founder Bo Shen publicly offered a 10-20% reward to anyone who helps recover approximately $42 million in crypto stolen from his personal wallet in November 2022.
The announcement on March 26 reopens one of crypto’s largest individual theft cases. Shen said tracking efforts have continued for over three years and that asset flow paths have become clearer.
Fenbushi Capital’s Bo Shen Offers Bounty to Recover $42 Million Stolen in 2022 Hack
The original hack occurred on November 10, 2022, when attackers compromised the seed phrase of Shen’s Trust Wallet.
Security firm SlowMist confirmed at the time that approximately $38.2 million in USD Coin (USDC), 1,607 Ether (ETH), nearly 720,000 Tether (USDT), and 4.13 Bitcoin (BTC) were drained.
Shen stressed the stolen assets were personal and unrelated to Fenbushi Capital’s operations.
Shen credited on-chain investigators ZachXBT and Taylor “Tayvano” Monahan, along with firms Bitrace and SlowMist, for ongoing assistance.
He noted that ZachXBT and Tayvano had already helped freeze roughly $1.2 million in related assets. Rewards will be distributed once recovery is finalized.
“Any individual or organization that makes a substantive contribution to asset recovery — regardless of identity, background, or method — will receive 10%–20% of the total recovered amount, based on the level of contribution,” said Shen.
Shen also highlighted that AI-powered on-chain forensics and cross-platform collaboration tools have matured significantly since 2022.
“Three years ago, when the incident occurred, the tools for on-chain tracking and security investigations were far less mature than they are today. Now, AI-driven data analysis, on-chain forensics, and cross-platform collaboration capabilities have made a qualitative leap forward,” he noted.
He framed the bounty as a test case for how these newer capabilities can resolve cases previously considered impossible.
Whether the full $42 million can still be recovered after three years of fund movement remains an open question. However, the public bounty signals renewed confidence that improved tracing technology may narrow the gap between theft and accountability.