Shezmu recovers stolen funds after paying a 20% bounty

ChainCatcher news, according to Cointelegraph, the yield protocol Shezmu recovered nearly $5 million of stolen funds just hours after successfully negotiating with hackers. This morning, Chaofan Shou, co-founder of blockchain analytics firm Fuzzland, warned that one of Shezmu's repositories had been compromised. While it is unclear whether the incident was intentional or a genuine hack, Shou confirmed that approximately $4.9 million worth of cryptocurrency was stolen in the process.

Shezmu subsequently confirmed that one of its ShezmuUSD (ShezUSD) stablecoin vaults was attacked and actively urged the hackers to return the funds in exchange for a bounty, with no legal repercussions. The hackers responded to this request by asking for a 20% bounty instead of the initial 10%, and Shezmu agreed to pay the bounty.

Within hours, Shezmu began to recover the stolen funds, but at the time of writing, not all funds had been restored. The Shezmu team urged investors to limit their interactions with the protocol's Oasis vault until further updates are available.