Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Shiba Inu (SHIB) Releases Update Regarding Recent Hack Attack

Shiba Inu (SHIB) Releases Update Regarding Recent Hack Attack

CryptoNewsNetCryptoNewsNet2025/10/03 20:15
By:en.bitcoinsistemi.com

Shibarium, the layer-2 network of the Shiba Inu ecosystem, is preparing to restart its Ethereum bridge, which was shut down following a $4 million hack last month.

The development team announced that a refund plan is being worked on to compensate affected users.

According to the latest report published by the team, all validator keys were changed, more than 100 ecosystem contracts were moved to secure wallets, and 4.6 million BONE tokens were recovered from the attacker's contract.

The attack was triggered on September 12th when a hacker sent fake data to Shibarium's Ethereum-connected contracts. While the system automatically shut down as a security precaution, the attacker simultaneously attempted to gain control over the network by staking millions of dollars' worth of BONE tokens. This attempt resulted in approximately $4.1 million worth of ETH, SHIB, and 15 other tokens being withdrawn from the bridge.

Following the incident, lead developer Kaal Dhairya released a statement on X, stating that authorities had been contacted and that they were open to a “good faith” agreement with the attacker. The team offered the attacker a 50 ETH bonus, worth approximately $225,000, if the funds were returned. However, no agreement was reached, and the stolen assets were moved to different addresses.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Powell faces the ultimate test: At least three dissenters at the December meeting, Federal Reserve consensus collapses!

The "Fed mouthpiece" reported that internal divisions within the Federal Reserve have intensified amid a data vacuum, with three board members appointed by Trump strongly supporting a dovish stance, while the hawkish camp has recently expanded.

Jin102025/11/18 03:20

Weekly Hot Picks: Data Disappearance Doesn’t Stop the Fed’s Hawkish Stance! Global Multi-Asset Markets Face “Backstabbing”

The U.S. government shutdown has ended, but the release of key data remains chaotic. The Federal Reserve has sent frequent hawkish signals, causing significant declines in gold, silver, stocks, and currencies on Friday. The U.S. has launched Operation "Southern Spear". Buffett delivered his farewell letter, and the "Big Short" exited abruptly. What exciting market events did you miss this week?

Jin102025/11/18 02:55
Weekly Hot Picks: Data Disappearance Doesn’t Stop the Fed’s Hawkish Stance! Global Multi-Asset Markets Face “Backstabbing”

SignalPlus Macro Analysis Special Edition: Is It Going to Zero?

Over the past week, cryptocurrency prices declined once again. BTC briefly reached $94,000 on Monday due to lighter selling pressure before pulling back, and major cryptocurrencies saw further week-on-week declines...

SignalPlus2025/11/18 02:22
SignalPlus Macro Analysis Special Edition: Is It Going to Zero?