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Shezmu hacked for almost $5 million, negotiates bounty

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Original URL: https://web3isgoinggreat.com/single/shezmu-hack

A gold circle with a black silhouette of a pyramid with a sun behind the top of it, followed by "Shezmu"

A crypto yield platform called Shezmu suffered a loss of around $4.9 million in $ShezUSD after an attacker exploited a flaw that allowed anyone to mint collateral, which they could then use to borrow ShezUSD. These tokens were relatively illiquid, however, so the total amount the attacker could have obtained was likely considerably less.

Shortly after the attack, Shezmu offered a 10% "bounty" for the return of the funds. The attacker responded that they would only consider a 20% bounty. Shezmu agreed to the terms, and announced to their followers that they had achieved a recovery from the "white hat" hacker.

Posted on:2024-09-22 16:17:17

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