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Tuesday, September 24, 2024
Shezmu's vault became the latest battleground where $4.9 million vanished faster than a mirage in the desert.
But in a twist worthy of a crypto thriller, the saga unfolded not with a bang, but with a negotiation.
On September 20th, Shezmu found itself in the crosshairs of an opportunistic hacker who had stumbled upon a critical flaw - a vault accepting collateral that could be minted by anyone.
With this vulnerability, the attacker managed to borrow an arbitrary amount of ShezUSD, draining millions from the protocol.
Yet, in a move that would make even the most seasoned poker players sweat, Shezmu called the hacker's bluff.
They laid their cards on the table: return the funds for a 10% bounty and walk away scot-free, or face the full force of the law within 24 hours.
The hacker, unfazed, countered with a demand for 20%.
In a game of crypto chicken, Shezmu blinked first, agreeing to the 20% bounty.
In a world where code is law, but negotiation saves the day, who really holds the winning hand - the hacker with the loot, or the protocol with the flexibility to bend?
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We are all rekt.