Venture Firm Founder Offers Bounty to Help Recover $42 Million in Stolen Bitcoin, Crypto

1 month ago 29

In brief

Bo Shen, laminitis of Fenbushi Capital, is offering a 10-20% bounty to those who tin assistance him retrieve a information of $42 cardinal that was stolen from him successful 2022.
The theft was allegedly owed to a compromised effect phrase, starring to the nonaccomplishment of astir $38 cardinal successful stablecoins successful summation to Bitcoin and Ethereum.
The task laminitis believes caller on-chain tooling and AI tin assistance ace the case.

Bo Shen, the laminitis of crypto task steadfast Fenbushi, is offering a bounty of 10-20% to immoderate individuals capable to assistance him retrieve a information of the $42 cardinal successful Bitcoin, Ethereum, and stablecoins stolen from his idiosyncratic wallet successful 2022.

The malicious histrion made disconnected with crypto assets present valued astir $42 million, highlighted by $38 cardinal successful Circle’s dollar-backed stablecoin USDC, but besides 1,607 Ethereum, astir $720,000 successful Tether’s stablecoin USDT, and 4.13 Bitcoin.

“Three years person passed. The probe has ne'er stopped,” said Shen in a station connected X. “Our squad has continued to stitchery captious grounds and leads. The travel of the stolen assets is becoming progressively clear,” helium added portion making a nationalist bounty offer.

“Any idiosyncratic oregon enactment that makes a substantive publication to plus recovery—regardless of identity, background, oregon method—will person 10%–20% of the full recovered amount, based connected the level of contribution,” helium added.

Three years ago, on-chain tracking and information probe tools were acold little susceptible than today. AI-powered information analysis, on-chain forensics, and cross-platform collaboration person since made a qualitative leap.

This is not conscionable astir recovering assets. It is astir opening…

— Bo Shen (@boshen1011) March 26, 2026

About $1.2 cardinal of the funds person been frozen to day acknowledgment to assistance from notable on-chain expert Taylor Monahan and pseudonymous sleuth ZachXBT.

Now, though, Shen thinks the advances successful on-chain tooling and artificial quality (AI) tin assistance bash adjacent much successful the case.

“This is not conscionable astir recovering assets,” helium said. “It is astir opening a existent lawsuit to the community, inviting collaboration, and seeing however acold the tools of the AI epoch tin propulsion what was erstwhile impossible.”

The theft from Shen’s idiosyncratic wallet took spot successful November 2022, allegedly arsenic a effect of a compromise of his effect phrase, the 12 oregon 24 connection operation that unlocks a wallet’s backstage key, according to analysis by blockchain information steadfast SlowMist.

Shortly aft the theft, it was reported to section instrumentality enforcement, according to Shen, with the FBI and lawyers besides involved.

Established successful 2015, Shen’s Fenbushi Capital says it has much than $1.6 cardinal successful assets nether management. Its portfolio includes large crypto firms similar speech Bybit and stablecoin issuer Circle, alongside holdings of Ethereum and Zcash.