Bo Shen Offers Bounty for Recovery of Stolen Crypto Assets
- Bo Shen, founder of Fenbushi Capital, is offering a bounty of 10-20% for the recovery of $42 million in stolen crypto assets.
- The theft involved approximately $38 million in Circle’s USDC, alongside Ethereum, USDT, and Bitcoin.
- The assets were stolen due to a compromised seed phrase from Shen’s personal wallet in November 2022.
- About $1.2 million has been frozen with help from analysts Taylor Monahan and ZachXBT.
- Shen believes advances in on-chain tooling and AI could aid further recovery efforts.
Bo Shen is actively seeking assistance to recover the remaining stolen funds by offering a substantial bounty to contributors who can aid in the asset recovery process. The theft, which occurred due to a compromised seed phrase, involves significant amounts of stablecoins and other cryptocurrencies.
Despite previous efforts freezing some assets, Shen remains hopeful that new technologies will provide breakthroughs in recovering the remaining funds.Source
