- Shiba Inu’s Shibarium halted after $2.3M hack- bridge closure continues.
- Shiba Inu team works on security improvements after massive breach.
- Stolen funds, including SHIB and ETH, remain unaccounted for currently.
Shiba Inu’s Shibarium network is facing significant disruptions after a major hack that resulted in the loss of $2.3 million. According to developer Kaal Dhairya, the Shibarium bridge remains closed, preventing users from transferring assets back to Ethereum. While the team is prioritizing safety and system verification, there’s no set timeline for when the bridge will be reopened. Dhairya confirmed that updates would only come through official channels to avoid providing additional information to the attackers.
The hack, which took place on September 12, was initially identified by blockchain security firm PeckShield. Further investigations revealed that the attackers gained control over the majority of Shibarium’s validators, manipulating them to authorize fraudulent exit requests. In total, 10 out of 12 validators were compromised, allowing the hackers to withdraw around $2.3 million in assets, including Ethereum (ETH), Shiba Inu (SHIB), and ROAR tokens.
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Shiba Inu Team Focuses on Security Before Bridge Reopening
The Shiba Inu team is focusing on containing the damage and enhancing security measures to prevent further losses. Developers are actively working on securing the network and addressing the vulnerabilities exploited during the hack. Although recovery efforts are underway, there is no guarantee that the stolen funds will be returned to users. The team is considering several backup options, including using the Shiba Inu treasury, burning tokens, or tapping into an insurance fund. Any recovery plan will be subject to community approval before implementation.
While there is uncertainty surrounding the recovery of the stolen assets, the Shiba Inu team remains focused on reinforcing the network’s security. The Shibarium bridge will remain closed until the team is confident that all vulnerabilities have been addressed.
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