Fenbushi Capital Co-Founder Offers Bounty for Recovery of Stolen $42M

Bo Shen reignites pursuit of $42 million in stolen crypto

Fenbushi Capital co-founder Bo Shen has publicly announced a bounty for anyone who can help recover $42 million stolen from his personal cryptocurrency wallet in November 2022. The investor is willing to pay between 10% and 20% of the recovered amount immediately upon successful transfer of funds.

Shen shared the announcement on social media:

«2022年11月，个人钱包被盗，损失约4200万美元。三年来，追踪工作从未停止。团队陆续掌握了更多关键线索和证据，相关资产的流转路径也变得越来越清晰。…» — Bo Shen (@boshen1011), original post

According to Shen, the tracking effort never stopped during the three years since the breach. His team has gathered key evidence and mapped out increasingly clear asset flow paths.

Why this matters

This incident ranks among the largest thefts from a personal crypto wallet in the industry's history. Shen's decision to renew the search with professional blockchain investigators could set a precedent for other victims of major crypto heists. The investor himself views the situation as a real-world test for the latest investigation technologies — particularly on-chain analytics tools and artificial intelligence that have advanced significantly since the original theft.

Breakdown of the hack

The breach occurred in November 2022. Security experts at SlowMist determined that the attackers gained access through a compromised seed phrase. The stolen assets comprised:

• $38.2 million in USDC
• 1,607 ETH
• 720,000 USDT
• 4.13 BTC

Shen emphasized that the stolen funds were entirely personal — the capital managed by Fenbushi funds was not affected. After extracting the assets, the hackers routed them through exchange platforms including ChangeNow and SideShift to obscure the trail.

Blockchain detectives join the hunt

Prominent on-chain investigator ZachXBT and security researcher Taylor Monahan have joined the case. Their combined efforts have already yielded early results, with $1.2 million in stolen assets successfully frozen.

Shen stated that fresh leads prompted him to reactivate the recovery effort. He pointed to advances in artificial intelligence and modern on-chain analytical tools as giving investigators significantly greater capability to trace transaction chains. Nevertheless, a full recovery of the stolen funds remains uncertain.

In a related reminder of persistent threats facing crypto investors, Hypersphere venture partner Mehdi Farooq fell victim to a phishing attack via a fake Zoom call in June 2025.