Fenbushi Founder Offers 10–20% Bounty to Recover $42M Crypto Theft
Bo Shen, founder of Fenbushi Capital, has offered a 10–20% bounty to recover any of the $42 million stolen from his 2022 wallet compromise, including $38 million in USDC, 1,607 ETH, $720,000 in USDT and 4.13 BTC. Frozen $1.2 million, investigators will use AI-driven on-chain analysis to trace assets.
1. Overview of 2022 Theft
In November 2022, Bo Shen's personal wallet was compromised, resulting in the loss of 4.13 BTC, 1,607 ETH, $720,000 in USDT and $38 million in USDC, totaling roughly $42 million at current valuations.
2. Bounty Structure and Incentives
Shen has announced a public bounty offering 10–20% of any recovered assets to individuals or organizations that contribute substantively to the recovery, with payout scaled to the level of assistance provided.
3. Recovery Progress and Frozen Funds
Blockchain investigations have already led to the freezing of $1.2 million in stolen funds, supported by on-chain analysis and collaboration with legal authorities.
4. Leveraging AI and On-Chain Tools
Shen plans to harness advances in AI-driven forensics and enhanced on-chain tracking to accelerate asset tracing and engage the broader community in recovery efforts.