Hang is indeed a verb.
However, as written, it's nonsense AFAIK. I'm no grammar expert, so don't know which is the more technically correct, but I'd expect to see it as either:
... deserve
to hang (using the infinitive correctly (well, correctly to me anyway

)
... deserve
hanging (using the present participle. I think. I can never remember all the names

)
or
... deserve
to be hung (using a past participle of hang with an auxiliary verb , which is how I originally interpreted the statement).
So, "hung" is neither correct nor desirable in that context as it indicates an incorrect usage of the verb "to hang"
IMO. If I'm wrong, can you give me linkage as I've honestly never seen it written like that before.