Fenbushi Capital Co-Founder Offers up to 20% of $42M to Recover Stolen Crypto

Shen disclosed the theft publicly on Nov. 23, 2022, roughly two weeks after the breach occurred in the early morning hours of Nov. 10, 2022. The compromised wallet, ending in the digits 894, held the bulk of his personal digital assets. Fenbushi Capital, the Shanghai-based blockchain venture firm Shen co-founded, was not affected.

The stolen assets included approximately $38.2 million in USDC, 1,607 ETH, roughly 720,000 USDT, and 4.13 BTC, along with smaller positions in tokens including UNI, REP, and LQTY. Blockchain security firms Slowmist and Beosin traced the root cause to a compromised mnemonic seed phrase, which gave the attacker direct control over the…