If You Hold Shiba Inu, You Should Be Aware Of This Bridge Exploit That Rocked Shibarium

Shiba Inu’s Shibarium network is facing a major setback after a recent bridge exploit that allowed an attacker to move funds out of the ￰0￱ response, the Shiba Inu DeFi team makes a public on-chain offer of a bounty to encourage the return of the stolen ￰1￱ the same time, token prices connected to Shiba Inu fell sharply as investors reacted to the news and questioned the network’s ￰2￱ Bridge Exploit Results In $2.4 Million Drain The exploit begins when the attacker uses a flash loan to purchase 4.6 million Bone ShibaSwap tokens, also known as ￰3￱ this control, they accessed validator signing keys and approved a harmful ￰4￱ transaction transferred approximately $2.4 million worth of assets from the Shibarium bridge in a short ￰5￱ impact of the stolen funds, transferred out of the Shibarium bridge by the attacker, has spread across the ￰6￱ connected to the Shiba Inu ecosystem begin to lose value soon after the ￰7￱ Shiba Inu token, SHIB, falls by about seven percent, dropping from $0.0000145 to $0.0000131.

The K9 Finance token, KNINE, also takes a hit, losing about ten percent in value. ShibaSwap’s token, BONE, suffers the sharpest decline, falling by more than one-third in just ￰8￱ Inu Team Sends Bounty Offer To Attacker After the exploit, the Shibarium DeFi team makes the unusual choice of reaching out directly to the attacker through the ￰9￱ data on Etherscan shows a message sent on-chain offering the attacker a bounty of 5 Ether, approximately $23,000, in exchange for the return of the stolen ￰10￱ to the team, the bounty is open for 30 days, but it will begin to shrink after seven days, which puts pressure on the attacker to act fast if they want the full ￰11￱ message itself is in clear but firm words.

K9 Finance states: “Settlement is atomic when we call recoverKnine(). If you call accept(), we cannot cancel the ￰12￱ is ￰13￱ is live. Please, act fast.” Shiba Inu developer Kaal Dhairya addressed SHIB holders in an X ￰14￱ stressed that restoring security and protecting user funds remain the top priorities as the team is now collaborating with security experts to investigate the ￰15￱ part of the immediate response, the developers paused stake and unstake functions and moved stake manager funds into a hardware wallet managed by a ￰16￱ the attacker accepts or ignores the bounty, SHIB holders now have many questions about safety and trust in the ￰17￱ exploit has altered how the community views the network, highlighting why Shiba Inu holders need to closely monitor how the Shibarium DeFi team resolves the situation.