Bo Shen offers up to 20% bounty to recover $42 million stolen in wallet hack in 2022

Three years later, Bo Shen launched a recovery hunt, inviting anyone to help track down the stolen funds.

Bo Shen, co-founder of Fenbushi Capital, has renewed his efforts to recover approximately $42 million in digital assets stolen from his personal wallet during a hack in November 2022. This time, he is using a public appeal to mobilize the broader crypto community.

At the time, blockchain security firm Beosin confirmed the incident and said the breach likely stemmed from a private key compromise, which allowed the attacker to take control of the wallet and transfer all funds to two Ethereum addresses.

Bounty opened for missing crypto

In a detailed statement on Building on this progress, he announced a bounty program of 10 to 20 percent of all successfully recovered funds to individuals or organizations that make a significant contribution to the recovery effort, regardless of their origin or affiliation.

Shen said tools such as AI-driven data analysis and advanced on-chain forensics have evolved rapidly, enabling a level of tracing and coordination that was previously difficult to achieve. Interestingly, prominent on-chain investigator ZachXBT and security expert Taylor Monahan previously played a role in freezing approximately $1.2 million in associated crypto assets.

The Fenbushi director said his team is working to recover these funds and will distribute rewards once the recovery process is complete. He also credited the help of other security teams, including SlowMist, as well as those who responded quickly to the incident. The bonus is open to anyone, regardless of their origin, provided they provide useful information or technical support leading to asset recovery.

“The power of a single person is ultimately limited, but community collaboration and perseverance can slowly turn many things that once seemed impossible into reality. It is precisely for this reason that we are even more convinced that good will prevail over evil. Under new technological conditions, many things that once seemed difficult gradually become possible to move forward and solve.”

Targeting private keys

Nominis recently reported that private key theft has become a central attack vector in crypto breaches. A February exploit targeting Step Finance was traced to compromised devices used by its team, which could have resulted in leaked keys or unauthorized access approvals.

Following this, the attackers withdrew more than 261,000 SOL from wallets controlled by the project, with losses reaching up to $40 million.

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