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Using the yield protocol, Shezmu recovered nearly $5 million in stolen funds within hours of successfully negotiating with the hacker.
On September 21, Chaofang Shou, co-founder of blockchain analytics firm Fuzzland, warned of a hacked vault owned by Shezm. While he's not sure if the incident was a deliberate carpet pulling or a real hack, Shu confirmed that about $4.9 million worth of cryptocurrencies were stolen during the process.
Shezmu later confirmed that one of the stablecoin vaults of ShezmuUSD (ShezUSD) had been hacked and actively urged the hacker to return the funds in exchange for a reward without any legal repercussions.
Shezmu requested the return of 90% of the stolen funds within 24 hours via an on-chain message. Law enforcement agencies will only be involved in the protocol if the hacker decides not to comply.
Shezmu Hacker Demanded 20% White Hat
Bounty The hacker responded to the request by demanding a 20% reward instead of the initial 10% offer, to which Shezmu agreed.
A few hours later, Shezmu began receiving stolen Dai (DAI) tokens in his wallet. The hacker initially returned 282.18 ether (ETH) to the protocol and then returned 137 wrapped ether (WETH) once again.
However, at the time of writing, not all funds have been recovered, and the Shezmu team urged investors to limit their interaction with the protocol's Oasis vault until further updates.
Related: BingX confirms 'minor' losses amid panic over hot wallet moves.
WazirX struggles to trace $235 million
worth of stolen funds On the other end of the spectrum, Indian cryptocurrency exchange WazirX has made no progress in tracking $230 million worth of stolen funds 60 days after the hack.
WazirX has pleaded not guilty to the hack and continues to blame its Liminal custodian for the loss of funds. Refuting this claim, Liminal announced on September 9 that it had undergone an independent audit conducted by international professional services firm Grant Thornton.
The check showed that Liminal did not find any evidence of a cyberattack originating from Liminal's web applications or its server and external structures.
More recently, WazirX has faced legal threats from its customers, the most notable of which was another rival Indian cryptocurrency exchange, CoinSwitch. The company has filed a lawsuit against Wazir to recover 2% of its funds worth about $6.2 million.
On September 21, Chaofang Shou, co-founder of blockchain analytics firm Fuzzland, warned of a hacked vault owned by Shezm. While he's not sure if the incident was a deliberate carpet pulling or a real hack, Shu confirmed that about $4.9 million worth of cryptocurrencies were stolen during the process.
Shezmu later confirmed that one of the stablecoin vaults of ShezmuUSD (ShezUSD) had been hacked and actively urged the hacker to return the funds in exchange for a reward without any legal repercussions.
Shezmu requested the return of 90% of the stolen funds within 24 hours via an on-chain message. Law enforcement agencies will only be involved in the protocol if the hacker decides not to comply.
Shezmu Hacker Demanded 20% White Hat
Bounty The hacker responded to the request by demanding a 20% reward instead of the initial 10% offer, to which Shezmu agreed.
A few hours later, Shezmu began receiving stolen Dai (DAI) tokens in his wallet. The hacker initially returned 282.18 ether (ETH) to the protocol and then returned 137 wrapped ether (WETH) once again.
However, at the time of writing, not all funds have been recovered, and the Shezmu team urged investors to limit their interaction with the protocol's Oasis vault until further updates.
Related: BingX confirms 'minor' losses amid panic over hot wallet moves.
WazirX struggles to trace $235 million
worth of stolen funds On the other end of the spectrum, Indian cryptocurrency exchange WazirX has made no progress in tracking $230 million worth of stolen funds 60 days after the hack.
WazirX has pleaded not guilty to the hack and continues to blame its Liminal custodian for the loss of funds. Refuting this claim, Liminal announced on September 9 that it had undergone an independent audit conducted by international professional services firm Grant Thornton.
The check showed that Liminal did not find any evidence of a cyberattack originating from Liminal's web applications or its server and external structures.
More recently, WazirX has faced legal threats from its customers, the most notable of which was another rival Indian cryptocurrency exchange, CoinSwitch. The company has filed a lawsuit against Wazir to recover 2% of its funds worth about $6.2 million.
