Hacker Attack on Shiba Inu (SHIB) Network: Developers Issue Statement

Shiba Inu (SHIB) has frozen 4.6 million BONE tokens after it was revealed that they were linked to a security breach in Shibarium, the protocol's Layer-2 scaling solution. The Shiba Inu team has issued an official statement regarding suspicious activity flagged by PeckShield. The project team announced the launch of a comprehensive investigation involving both internal security staff and external partners. Related News: Bitcoin Bull Millionaire Arthur Hayes Discusses BTC: “Be Patient, BTC Bull...” According to the update, the details of the hack are as follows: The attacker temporarily gained validator voting power by purchasing 4.6 million BONE in the same block with funds obtained from the bridge hack. This power was used to sign a malicious “state” on Shibarium. The transaction was repaid using 224.57 ETH and 92.6 billion SHIB, similar to a flash loan. Importantly, it was stated that BONEs cannot be withdrawn because they are delegated to validators. Investigations showed that signing keys for 10 out of 12 validators were compromised. The attacker attempted to sell approximately $700,000 worth of KNINE, but all attempts failed because the K9 Finance DAO multisig address was blacklisted. The LEASH, ROAR, TREAT, BAD, SHIFU tokens affected by the attack have not been moved yet. However, the developers reported that they have taken precautions regarding the hack attack: Staking/unstaking operations have been halted to protect community assets. The forensic analysis process was initiated with Hexens, Seal911 and PeckShield. *This is not investment advice. Continue Reading: Hacker Attack on Shiba Inu (SHIB) Network: Developers Issue Statement