Shezmu, a revenue-sharing protocol, has recovered nearly $5 million of stolen funds within hours of successfully negotiating with hackers.

Earlier this morning, Chaofan Shou, co-founder of blockchain analytics firm Fuzzland, warned that a Shezmu repository had been compromised. While it's unclear if the incident was intentional or a genuine hack, Shou confirmed that approximately $4.9 million worth of cryptocurrency had been stolen.

Shezmu subsequently confirmed that one of their ShezmuUSD (ShezUSD) stablecoin pools had been targeted. They proactively urged the hackers to return the funds in exchange for a bounty and a promise of no legal repercussions. The hackers responded by demanding a 20% bounty instead of the initial 10%, which Shezmu agreed to.

Within hours, Shezmu began to recover the stolen funds. However, as of this writing, not all funds have been restored. The Shezmu team is urging investors to limit their interaction with the protocol's Oasis vault until further updates are provided.