In article number 1600358, Shaowei Chen and co‐workers describe the preparation of hollow nanoshells composed of segregated nanocrystalline domains of AG and CuO. The structures exhibit catalytic activity in the reduction of 4‐Nitroaniline, thereby showing promise for organic pollutant removal. Surface modification with a hydrophobic thiol on the other hand allows dispersing in nonpolar solvent, enabling to use the shells' cavities for phase‐transfer.