- The founder of Fenbush Capital was robbed of $42 million in 2022.
- Shen lost most of the stablecoin USDC, as well as Bitcoin, USDT, and Ethereum.
- Now, he’s offering a bounty of up to 20% for any key information surrounding the theft.
More than 1,200 days since he was robbed of $42 million in crypto, Bo Shen isn’t giving up.
The billionaire founder of the Asia-based venture firm Fenbushi Capital says he and investigators have made serious inroads in tracking down the lost crypto.
Now, he’s offering up an enticing bounty for further details.
“I am publicly offering a bounty for asset recovery,” Shen said on Thursday.
“Any individual or organisation that makes a substantive contribution to asset recovery — regardless of identity, background, or method — will receive 10% to 20% of the total recovered amount, based on the level of contribution.”
Fenbushi Capital is one of the most active crypto-centric venture firms in Asia, having backed major blockchain companies such as Consensys, Ethereum, Polkadot, and ChainSafe.
The firm manages over $1.6 billion in assets and boasts a portfolio of more than 300 companies.
$42 million heist
In November 2022, Shen revealed that his private crypto wallet had been compromised.
The attackers stole 38.2 million USDC tokens, 1,607 ether, 719,760 USDT, and 4.13 Bitcoin, according to security firm Slowmist at that time.
Slowmist determined the exploit was a result of the attackers gaining access to Shen’s private keys, the 12- to 24-word recovery phrase, which gives holders the ability to send and receive from a given wallet.
With the help of security analyst Tay Monahan and pseudonymous onchain sleuth ZachXBT, Shen said on Thursday that he has already frozen approximately $1.2 million in assets.
He added that artificial intelligence and onchain analytics have made a “qualitative leap” since 2022.
“It is about opening a real case to the community, inviting collaboration, and seeing how far the tools of the AI era can push what was once impossible,” Shen said.
“Justice may be slow, but it doesn’t expire. Neither does the blockchain.
Liam Kelly is DL News’ Berlin-based DeFi correspondent. Have a tip? Get in touch at liam@dlnews.com.
