Combine shallots, chile peppers, peanut butter, turmeric, garlic, and ginger in a food processor or blender; blend into a thick paste.
Season beef with salt and pepper.
Heat coconut oil in a large skillet over medium heat. Cook beef in batches until browned, about 1 minute per side. Transfer to a bowl.
Fry curry paste in the same skillet until fragrant, 2 to 3 minutes. Return beef to the skillet. Add water, coconut cream, beef bouillon cube, and lime zest, stirring well to combine. Bring to a boil. Reduce heat to low and simmer gently, partially covered, until sauce coats the beef and beef is tender, about 3 hours.