Bo Shen Wallet Hack Hack

TOTAL LOST $41.1M
High #147 All-Time Access Control

Summarize with AI

ChatGPT Perplexity Claude Grok
Affected Chain 2022 Incident surface
Recovered - No recovery reported
All-Time Rank #147 By amount stolen
Protocol Type Exploit/Access control Target category

Incident Overview

Quick Summary

Bo Shen's hot wallet was exploited via access control. 41,053,572 $USD worth of assets in four chains was stolen from his Trust Wallet.

Details of the Exploit

Bo Shen is the founder of Fenbushi Capital. His Trust Wallet's mnemonic keys were compromised, which led to the loss of 41,053,572 $USD in various assets. 38,233,180 $USDC, 1,606 $ETH, 719,760 $USDT, and 4.13 $BTC were transferred to various sources.

Trust Wallet has no issues related to the hack because it was a mnemonic phrase compromise.

Block Data Reference

Attacker addresses:

https://etherscan.io/address/0x24b93eed…dcbc2e

https://www.blockchain.com/btc/address/39R7sdAUWfL6JE37BWorfHFb5sgjMLNZqz

This is classified as a Access Control Attacks . Compare similar hacks →

Incident Report

Protocol / Project Bo Shen Wallet Hack
Date of Incident
Attack Technique Access Control
Classification Other
Primary Source View Post-Mortem #1 View Post-Mortem #2

Protocol Information

Protocol Type Exploit/Access control
Protocol Twitter/X @boshen1011
Team Public / Doxxed
Source Code Unverified

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Operational-security tradecraft (phishing, malware, leaked seed phrases, or insider access) to obtain treasury signing authority
Capital Required Minimal capital - only enough to cover gas while draining the compromised accounts
On-Chain Access Valid signing authority over the compromised wallets / multisig signers, allowing direct transfer of funds or stake authorization
Target Reconnaissance Identification of Bo Shen Wallet Hack's high-value treasury accounts and the authority / multisig structure controlling them
Execution Speed Speed to drain the compromised accounts before the team detects the breach and revokes signing authority or freezes the assets
Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Access Control audit checklist and test coverage

If you're auditing a protocol with similar architecture to Bo Shen Wallet Hack, these are the critical security checks that could have prevented this incident (November 2022).

  • Verify all logic paths related to Access Control are guarded by proper access controls and input validation - see the Access Control Attacks attack class for patterns
  • Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Access Control Attacks examples →

Access Control Attacks

Sources & References

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