This week, the Shiba Inu ecosystem faced a significant security incident when hackers attempted to attack the Shibarium bridge. Thanks to rapid actions by the developers, BONE tokens were frozen before the hackers could withdraw them.
Discovery of Shibarium Exploit
The incident was first flagged by PeckShield, a blockchain security firm, which noticed suspicious activity on the Shibarium bridge. Soon after, lead developer Kaal Dhairya confirmed that the team was investigating. The attackers used a flash loan exploit and stole validator keys to seize control of the network and attempt to drain the bridge assets. However, the 4.6 million BONE tokens were staked and locked, making them unavailable for withdrawal, allowing developers to freeze them before further movement.
Security Enhancements and Hacker Talks
In response to the incident, the Shiba Inu developers transferred their stake manager funds into a hardware wallet secured by multisig protection. They also began a full audit of validator keys to check for weaknesses. To strengthen their defense, they are working with three leading security firms, including Hexens, Seal 911, and PeckShield. Developers emphasized that protecting community assets remains their top priority. In an unusual move, the Shiba Inu team spoke directly to the hacker, stating they would not take legal action and even offered a reward if the hacker returned the stolen tokens.
Scam Warnings and Project Updates
This incident follows a separate warning the Shiba Inu team issued about scam attempts on Discord, where fraudsters used expired invitation links to lure users into fake servers. Victims were then asked to verify their wallets, which led to the theft of SHIB and other tokens. Additionally, the team shared updates on new projects, planning to move the LEASH token to LEASH V2 using a fixed ratio for smoother swaps. ShibaSwap also received a major upgrade to enhance trading across different blockchains and better manage liquidity.
The Shibarium hack highlights significant security risks in the crypto industry. The team is working to address vulnerabilities and protect user assets amid increasing threats.
