He added:
“The stolen assets are personal funds and do not affect on Fenbushi related entities.”
The drained assets were funneled through mixing services before being converted into other tokens, with some flows ending in DAI. That layering made early tracing difficult, but Shen indicated that cross-platform collaboration has changed the equation.
The bounty is structured on a sliding scale based on contribution. Anyone whose work leads to a material recovery — individuals, white-hat researchers, analytics firms, or other organizations — is eligible regardless of background or affiliation.
Recovery remains difficult. The funds have had more than three years to be laundered and dispersed across wallets and services. Shen has acknowledged the challenge but expressed confidence that modern forensic tools give his team a credible path forward.
Whether the bounty produces results will depend on whether anyone with direct knowledge of the attacker’s identity or wallet infrastructure comes forward. The investigation is ongoing, and Shen said updates will be posted to his X account.
FAQ What was stolen from Bo Shen’s crypto wallet? Approximately $42 million in cryptocurrency — including $38.2 million in USDC, 1,607 ETH, 720,000 USDT, and 4.13 BTC — was drained from his personal Ethereum wallet on Nov. 10, 2022. How was Bo Shen’s Ethereum wallet hacked? Security firms SlowMist and Beosin determined the attacker gained access by compromising Shen’s mnemonic seed phrase, allowing direct control over the wallet. What is the bounty Bo Shen is offering for the stolen crypto? Shen is offering 10% to 20% of any recovered amount to individuals or organizations that make a material contribution to recovering the funds. How can someone submit tips about the Bo Shen crypto theft?
