Fenbushi Co-Founder Offers Bounty to Recover $42M Crypto Hack

Gate News, March 26, 2026, Fenbushi Capital co-founder Bo Shen has launched a bounty program to recover approximately $42 million in digital assets stolen from his personal wallet in a 2022 hack. He is offering a reward of 10% to 20% of the recovered funds to any individual or organization that makes a meaningful contribution to the recovery effort.

The incident was first disclosed in November 2022, when Shen confirmed that the stolen assets were from his personal holdings and did not impact Fenbushi Capital. Blockchain security firm SlowMist later attributed the breach to a compromised mnemonic seed phrase, which allowed attackers to gain full access to the wallet. The stolen assets included large amounts of USDC, Ethereum, USDT, and a smaller portion of Bitcoin.

The case has recently gained renewed momentum as new investigative leads have emerged. Shen revealed that onchain analysts ZachXBT and Taylor “Tayvano” Monahan have already helped freeze approximately $1.2 million linked to the stolen funds. He noted that rewards will be distributed once recovery efforts are completed.

At the time of the attack, blockchain forensic capabilities were limited, making it difficult to trace assets across networks. The stolen funds were rapidly moved through multiple channels, adding complexity to the investigation.

Shen highlighted that recent advances in AI-driven analytics and onchain investigation tools have significantly improved the ability to track fund movements and identify suspicious transaction patterns. These developments may increase the chances of partial recovery.

He also noted that this case could serve as a reference for future long-term crypto asset recovery efforts, showcasing how improved technology and coordinated investigation can enhance results. However, despite better tools and clearer insights, the final recovery outcome remains uncertain.