Bo Shen, co-founder of venture firm Fenbushi Capital, is offering a 10%–20% bounty to anyone who materially helps recover roughly $42 million in digital assets stolen from his personal wallet in a 2022 hack. Shen said onchain investigators ZachXBT and Taylor Monahan, known as Tayvano, have already assisted in freezing about $1.2 million related to the case. Shen’s team plans to distribute rewards once funds are recovered.
Shen initially revealed the theft in November 2022, noting that about $42 million was drained from his personal wallet and that the incident did not affect Fenbushi-related entities. Blockchain security firm SlowMist later attributed the breach to a compromise of Shen’s mnemonic seed phrase.
According to SlowMist, the stolen holdings included roughly $38.2 million in USDC, 1,607 ETH, nearly 720,000 USDT and about 4.13 BTC. Those assets were reportedly routed through services such as ChangeNow and SideShift as they moved between addresses and platforms.
Shen said the renewed push follows new leads and a clearer mapping of how the assets traveled. He pointed to advances in onchain forensics and AI-driven data analysis since 2022, saying those tools now make it easier to trace flows across chains and identify transaction patterns that were harder to follow when the theft occurred. Shen described the recovery effort as a possible test case for how improved tooling and coordinated investigation can support long-running cases, while cautioning that any recovery is not guaranteed.
The frozen sum identified so far represents a small portion of the total alleged loss. Shen reiterated that his firm was not affected by the breach and that any rewards will be paid after successful recovery actions. Readers are encouraged to verify details independently as the investigation continues.