Bo Shen reopen recovery of $42M wallet hack wit 10%–20% bounty

Published: 2026-03-26 22:14:16 |

Bo Shen, one of di co-founders for Fenbushi Capital, don reopen effort to recover wallet hack wey carry about $42M wey dem comot for November 2022. After near three years wey dem don dey track on-chain, Shen talk say investigators don get clearer lead on how di funds waka across networks and exchanges. For X, e announce wallet hack recovery bounty wey go pay 10%–20% of any amount wey dem fit recover. Rewards go dey for people or organisations wey give important info or technical help wey fit help return di assets. Shen talk say improved tracing na because AI-driven data analysis and stronger on-chain forensics. E also yarn say ZachXBT and security expert Taylor Monahan don help freeze about $1.2M worth of related crypto so far, while Shen team dey try recover di rest before dem distribute rewards. SlowMist and early responders sef dem mention as contributors. Di stolen portfolio include about $38.2M in USDC, 1,607 ETH, about 720,000 USDT, and 4.13 BTC. Di attacker reportedly move funds through services like ChangeNow and SideShift, and di bigger background show say private-key theft risk dey increase. For traders, di update focus on wallet hack recovery, how di bounty mechanics work, and progress for on-chain forensics—things wey fit affect sentiment around ETH and SOL exposure wey dey linked to similar wallet-draining events.

Neutral

Dis news na mainly bout investigation and fund-recovery logistics rather dan new trading catalysts. Di reopen wallet hack recovery program plus AI-assisted on-chain forensics fit raise di chances to find and freeze more assets, wey fit reduce uncertainty for victims. But, no clear sign say new market-wide flows dey go in or out of di mentioned coins, and di amount wey don freeze (~$1.2M) na small fraction compared to overall market liquidity. Short-term, traders fit feel small sentiment effects round ETH/SOL risk because people dey look again into private-key theft and cross-chain movement, but expectation of recovered funds no fit turn into tradable price moves right away. Long-term, dis case dey reinforce industry-wide security and forensics trends, wey fit help regulatory and institutional confidence without giving a clear immediate price direction for di affected assets. Overall, di likely impact on di mentioned crypto prices limited, so neutral.