- Fenbushi Capital co-founder Bo Shen is offering a 10-20% bounty for a hack from 2022.
- Shen has emphasized that the stolen money was personal and not part of Fenbushi.
- On-chain sleuths like ZachXBT have helped freeze about $1.2 million of the stolen funds.
Fenbushi Capital co-founder Bo Shen is bringing back a long-cold crypto hack case, offering a 10-20% bounty to get back the roughly $42 million stolen from his personal wallet back in 2022. He made this announcement on X, inviting users to contact him if they have any valuable information.
The original exploit dates back to November 2022, when attackers got hold of Shen’s wallet by compromising his seed phrase, which is basically the master key to a crypto wallet. Once inside, the attacker cleaned out a mix of his assets, including around $38.2 million in USDC, over 1,600 ETH, about 720,000 USDT, plus a small amount of Bitcoin.
The funds were then shuffled through cross-chain bridges and swap services, making them hard to trace. Shen has always emphasized that the stolen money was personal and not part of Fenbushi Capital’s funds.
Why the Case is Being Reopened Now
Shen says blockchain investigation tools are way more advanced now than they were back in 2022. These days, investigators are using AI-powered on-chain tools and improved cross-chain tracking tools. There’s also better coordination between independent investigators now than it was before.
Related: DeFi Hacks Top $137M in Early 2026 as Security Failures Mount
Interestingly, the case shows how AI-powered forensics has become central to tracking illicit money, something that wasn’t really doable at scale at the time of the hack. These advancements have already led to some progress. According to Shen, on-chain sleuths like ZachXBT have helped freeze about $1.2 million of the stolen funds.
Fenbushi’s co-founder says there are new leads now, and a clearer picture of where the money went, so offering a bounty makes sense at this point. The bounty itself is straightforward, where 10 to 20% of any recovered funds is open to individuals or groups, with payout tied to how much help was provided.
This is much like the white-hat bounty model, where victims pay hackers or researchers to help get stolen money back.
While the outcome is still uncertain, Bo Shen’s case will be a good test for the evolution of crypto security.
Related: Resolv Offers 10% Bounty: 72 Hours to Return $25 Million Stolen Funds
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