Fenbushi Capital Co-founder Offers Reward for Return of Stolen $42 Million

Bo Shen offers reward for help recovering $42M stolen in 2022.

Bo Shen, co-founder of venture firm Fenbushi Capital, has offered a reward for assistance in recovering $42 million stolen from his personal wallet in 2022.

In November 2022, my personal wallet was hacked, resulting in a loss of approximately $42 million.

For three years, the tracking efforts have never ceased. The team has gradually acquired more crucial leads and evidence, and the asset flow paths have become increasingly clear.…

— Bo Shen (@boshen1011) March 26, 2026

The investor is willing to pay between 10% and 20% of the recovered amount immediately after the successful transfer of funds.

Renowned specialists ZachXBT and Taylor Monahan have joined the investigation, managing to freeze $1.2 million of the stolen assets.

Incident Details and New Search Technologies

The breach occurred in November 2022. The lost funds belonged personally to Shen, and the incident did not affect Fenbushi’s capital. Experts from SlowMist determined that the theft was due to the compromise of a seed phrase. 

The perpetrators withdrew $38.2 million in USDC, 1607 ETH, 720,000 USDT, and 4.13 BTC. They later funneled the coins through exchange platforms including ChangeNow and SideShift.

Shen resumed the search following new leads. He emphasized that advancements in artificial intelligence and modern on-chain analytics tools provide experts with greater capabilities for tracking transaction chains.

The investor views this case as a good test of the effectiveness of new investigative technologies, although the full recovery of funds remains uncertain.

Back in June 2025, Mehdi Farooq, an investment partner at venture firm Hypersphere, fell victim to a phishing attack via a fake Zoom call.