Yield protocol Shezmu recovers stolen funds after paying 20% bounty

Odaily News Yield protocol Shezmu has recovered nearly $5 million in stolen funds within hours after successfully negotiating with hackers. This morning, blockchain analytics firm Fuzzland co-founder Chaofan Shou warned that one of Shezmu’s repositories had been compromised. While it’s uncertain whether the incident was deliberate or a true 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 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 the request by asking for 20% of the bounty, rather than the initial 10%, which Shezmu agreed to pay. Within hours, Shezmu began recovering the stolen funds, but at the time of writing, not all funds have been recovered, and the Shezmu team urged investors to limit interaction with the protocol’s Oasis vault until further updates are available.