Shezmu Recovers Nearly $5 Million in Stolen Funds After Negotiations

According to BlockBeats, on September 21, the yield protocol Shezmu successfully recovered nearly $5 million in stolen funds just hours after negotiating with the hacker. Earlier today, Chaofan Shou, co-founder of blockchain analysis company Fuzzland, warned that a Shezmu repository had been compromised. While it remains unclear whether the incident was intentional or a genuine hack, Shou confirmed that approximately $4.9 million worth of cryptocurrency was stolen during the breach. Shezmu later confirmed that its ShezmuUSD (ShezUSD) stablecoin vault was attacked and proactively urged the hacker to return the funds in exchange for a bounty, with no legal consequences. The hacker responded by demanding a 20% bounty instead of the initially proposed 10%, to which Shezmu agreed. Within hours, Shezmu began to recover the stolen funds, although not all funds have been restored at the time of writing. The Shezmu team has advised investors to limit interactions with the protocol's Oasis vault until further updates are provided.