- Shiba Inu’s Shibarium update expected to launch Monday, enhancing interoperability.
- ShibaSwap expands cross-chain, offering token swaps across major blockchains.
- Shibarium bridge attack halts stake functionality, investigation underway for security.
Shiba Inu developer Kaal Dhairya recently provided an important update for the Shiba Inu community regarding the Shibarium network. According to Dhairya’s tweet, a minor issue was encountered, but the Shibarium lane powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is expected to be active by Monday. Though the tweet lacked specific details, this update could be tied to ShibaSwap’s recent efforts to expand its cross-chain capabilities.
ShibaSwap’s multi-chain expansion is poised to strengthen the Shiba Inu ecosystem, opening up new opportunities for traders across several major blockchains. With the latest update, users can now swap tokens across networks such as Ethereum, Polygon, Arbitrum, and Base. This positions ShibaSwap to attract liquidity from some of the most prominent blockchain ecosystems while setting the stage for smoother Shibarium integration.
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The integration of Chainlink’s CCIP within ShibaSwap will allow for enhanced interoperability between Shiba Inu’s ecosystem and more than 20 blockchains. This move is expected to improve liquidity and provide a more seamless experience for traders.
Shibarium Security Incident Causes Temporary Halt in Stake/Unstake Feature
Meanwhile, the Shiba Inu ecosystem has been rocked by a recent security breach involving the Shibarium bridge. An attacker used a flash loan to purchase a significant amount of 4.6 million BONE tokens. Fortunately, most of the assets, including the BONE tokens, remain locked and frozen, minimizing potential damage. In response, Shiba Inu developers paused the stake/unstake functionality as a precautionary measure, securing funds in multisig cold storage.
Security firms, such as Hexens and PeckShield, are currently investigating the incident. According to Dhairya, validator keys are being secured, and further updates will be shared as the investigation unfolds. Despite the breach, the BONE token surprisingly surged by 43%, reaching $0.236 in value within the last 24 hours.
These developments highlight the ongoing efforts to secure and enhance the Shiba Inu ecosystem, even amidst setbacks. The community is closely monitoring the situation as the team works to resolve the issue and ensure the platform’s long-term stability.
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