Bo Shen Announces Bounty of Up to 20% for Recovery of $42M Stolen in 2022 Wallet Hack

Bo Shen, the co-founder of Fenbushi Capital, is intensifying his efforts to retrieve approximately $42 million in digital assets that were taken from his personal wallet during a hack in November 2022. This time, he is making a public appeal to engage the wider crypto community. The incident was verified by blockchain security firm Beosin, which indicated that the breach likely resulted from a compromise of the private key, enabling the attacker to seize control of the wallet and transfer the funds to two Ethereum addresses. In his announcement on X, Shen disclosed that ongoing tracking over the past three years has revealed clearer pathways of the stolen funds on the blockchain, as investigators have gradually compiled crucial evidence. Enhancing these findings, he introduced a bounty program offering 10% to 20% of any successfully recovered funds to individuals or organizations contributing significantly to the recovery process, with no restrictions on their background or affiliation. Shen highlighted that advancements in AI-driven data analysis and sophisticated on-chain forensics have significantly improved the tracing and coordination of these recovery efforts. Notably, on-chain investigator ZachXBT and security expert Taylor Monahan have already contributed to freezing around $1.2 million in related crypto assets. Shen's team is committed to recovering those funds and plans to distribute rewards once the recovery is finalized. He also recognized the support from additional security teams, such as SlowMist, and individuals who promptly responded to the incident. The bounty is open to all who can provide valuable information or technical assistance leading to asset recovery. 'The potential of an individual is inherently limited, yet the collaboration and persistence of the community can gradually turn many seemingly impossible challenges into reality. This conviction reinforces our belief that good will ultimately triumph over evil. Under new technological advancements, what once seemed arduous is now becoming attainable,' Shen stated. Nominis has recently noted that private key theft is emerging as a primary attack vector in crypto breaches, with a February exploit involving Step Finance traced back to compromised devices utilized by its team, which may have resulted in leaked keys or unauthorized access. Following that incident, attackers withdrew over 261,000 SOL from project-controlled wallets, culminating in losses of up to $40 million.