Investigators have frozen about $1.2 million as efforts continue to trace funds lost in a wallet breach linked to a seed phrase compromise.
Bo Shen, the co-founder of venture capital firm Fenbushi Capital, offered a bounty to recover about $42 million in digital assets stolen from his personal wallet in a 2022 hack. Shen said he was offering a 10%-20% bounty on the recovered amount to any individual or organization that makes a substantial contribution to recovering the assets. He said onchain investigators ZachXBT and Taylor “Tayvano” Monahan had already helped freeze about $1.2 million in related assets. He said his team would distribute rewards once the recovery is complete.
The bounty revives a case Shen first disclosed in November 2022, when he said roughly $42 million in crypto had been drained from his personal wallet. At the time, he said the stolen funds were personal and did not affect Fenbushi-related entities.
Blockchain analytics company SlowMist later said the theft was caused by a compromise of Shen’s mnemonic seed phrase. Shen said the renewed push comes after investigators developed new leads and a clearer picture of how the stolen assets moved, though any recovery remains uncertain.
