SHIB Army Alert: Shiba Inu Team Explains Security Breach – Are Funds Safe?

TL;DR Reports emerged on Friday that Shiba Inu’s Shibarium could be hacked following several suspicious ￰0￱ team provided more updates today, indicating that investors’ funds are safe, and also outlined what has been done already and what the next steps ￰1￱ Security Incident After PeckShield flagged the suspicious activity on Friday, the official Shiba Inu channel on X said the team had reached out to external security partners to investigate ￰2￱ of the first updates posted on Saturday noted that a sophisticated attack, which was probably planned for months, was carried out using a flash loan to purchase 4.6 million BONE ￰3￱ attacker gained access to validator signing keys, achieved majority validator power, and signed a malicious state to drain assets from the ￰4￱ the tokens were delegated to Validator 1, they remained locked (because of unstaking delays), which allowed the team to freeze them.

A more recent Q&A from the team, reposted by LUCIE, said only a “small amount of ETH/SHIB was moved.” According to another post , the precise amount was 224.57 ETH (valued at around $1 million) and 92.6 billion SHIB (worth roughly $1.33 million). Other affected tokens include LEASH, ROAR, TREAT, BAD, and SHIFU, but they have not been moved or sold as of the time of the ￰5￱ attacker also tried to sell $700,000 worth of KNINE, but they failed as the K9finance DAO multi-sig blacklisted their ￰6￱ Funds Safe and What’s Next? The team was adamant that all investors’ funds are ￰7￱ and unstaking have been paused, and all funds have been moved and secured in multi-sig cold ￰8￱ team has also engaged with leading security firms, such as PeckShield, Seal911, and Hexens, to investigate the incident ￰9￱ terms of next steps, the Shiba Inu team said: • Secure validator key transfers and confirm full chain integrity. • Restore stake manager funds once security is assured. • Continue coordinating with partners to freeze attacker-linked funds • Publish a full incident report once investigations ￰10￱ this incident, the largest native token of the project has skyrocketed in the past 24 ￰11￱ has gained over 9% of value and now sits close to $0.0000145, which is the highest level in about a month.