US EditionShiba Inu's Layer-2 Network Breached, Over $1 Million Each in Ethereum, SHIB Stolen: How It Was Done
The attacker exploited validator control using a flash loan to drain $2.4 million in Ethereum and SHIB tokens from Shibarium bridge, prompting emergency network function pauses and security investigations.
- On Friday, the Shibarium bridge suffered a major breach that resulted in roughly $2.4 million stolen and moved to the exploiter's wallet from the Layer‑2 bridge to Ethereum.
- The attacker used a flash loan to borrow 4.6 million BONE tokens from ShibaSwap, enabling control of 10 of 12 validator signing keys to authorize malicious transfers.
- Blockchain records show 224.57 ETH and 92.6 billion SHIB were moved from the Shibarium bridge, and the attacker repaid the flash loan using these assets, totaling $1.27 million.
- Developers paused staking and unstaking, moved stake manager funds into a 6-of-9 hardware multisig, engaged PeckShield, Hexens, Seal 911, and offered a 5 ETH bounty for 30 days.
- The incident highlights persistent vulnerabilities in validator-based bridges, causing SHIB to fall about 7% and BONE to plunge 38%, weakening the CoinDesk Memecoin Index and shaking investor confidence.
16 Articles
16 Articles
Shiba Inu's Layer-2 Network Breached, Over $1 Million Each in Ethereum, SHIB Stolen: How It Was Done
The Shiba Inu (CRYPTO: SHIB) team posted a detailed account of the hacking incident that impacted its ecosystem on Saturday, including details about the assets affected and subsequent actions taken. Flash Loan Attack On Shibarium According to the official X account tied to the SHIB token, the attacker acquired 4.6 million Bone ShibaSwap (CRYPTO: BONE), the governance token of Shiba Inu’s Layer 2 network Shibarium, through a flash loan and moment…
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NewsBTCShiba Inu Price In Trouble? SHIB Team Goes After Attackers After Major Bridge Compromise
The Shiba Inu community is on high alert after a major compromise of the Shibarium bridge over the weekend. What began as reports from blockchain security firm PeckShield quickly escalated into a confirmed attack involving validator key leaks, flash loans, and malicious state changes. Developers have scrambled to contain the breach by freezing 4.6 million... The post Shiba Inu Price In Trouble? SHIB Team Goes After Attackers After Major Bridge C…
Shiba Inu Offers 5 ETH Bounty After $2.4M Shibarium Exploit - FinanceFeeds
What Happened With the Shibarium Bridge Attack? Shiba Inu’s decentralized finance platform K9 Finance, built on the Shibarium layer-2 network, has offered a 5 Ether ($23,000) bounty to the attacker behind a weekend exploit that drained about $2.4 million from its bridge. In an onchain message posted Monday, the team said the bounty offer will remain open for 30 days, with the reward beginning to decrease after seven days. “Settlement is atomic w…
Shibarium Hit by $2.4M Flash Loan Exploit After 10 Validator Keys Are Compromised
Shibarium lost $2.4 million after an attacker gained control of 10 out of 12 validator keys. Developers paused staking and moved funds to a secure wallet to stop further damage. A $23,000 bounty was offered to recover stolen assets without involving legal action. Shiba Inu’s Shibarium network suffered a major security breach on Friday. An attacker used a flash loan to borrow 4.6 million BONE tokens. This allowed them to gain control of 10 out of…
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