PANews reported on September 21 that according to Cointelegraph, the revenue protocol Shezmu recovered nearly $5 million worth of stolen funds within hours after successfully negotiating with hackers.
Earlier news, Chaofan Shou, co-founder of blockchain analysis company Fuzzland, warned that a repository of Shezmu had been hacked. Although it is not certain whether the incident was intentional or a real hacker attack, about $4.9 million worth of cryptocurrency was stolen in the process. Shezmu later confirmed that one of its ShezmuUSD (ShezUSD) stablecoin repositories had been hacked, and proactively urged the hacker to return the funds in exchange for a bounty without any legal consequences. The hacker 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 recovering the stolen funds, but not all funds have been restored, and the Shezmu team urged investors to limit interaction with the protocol’s Oasis vault until further updates are available.