Unveiling Shibarium's Response Strategy Following a $2.4 Million cyberattack

Shiba Inu token experiences a decrease of 6.28%, following reports of an exploit in Shibarium, causing a ripple effect that leads to significant daily losses for BONE and KNINE.

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2025 September 18 . 4:38 AM

2 min read

Shibarium's response to the $2.4M exploit: Damage mitigation measures detailed

Unveiling Shibarium's Response Strategy Following a $2.4 Million cyberattack

In a bid to recover the stolen funds, Shibarium's Decentralised Finance (DeFi) platform has extended a peace offering of 5 ETH to the attacker responsible for a recent flash loan exploit. The exploit, which took place on September 13, targeted Shibarium's cross-chain bridge and compromised 10 out of 12 validators, causing a significant impact on the Shibarium ecosystem.

The attack siphoned off Ethereum and Shiba Inu tokens, with approximately $700,000 worth of K9 Finance (KNINE) tokens stolen. As a result, the prices of SHIB, BONE, and KNINE experienced a sharp decline. SHIB slipped to $0.00001301, BONE crashed 38% to $0.1928, and KNINE fell 4.28% to $0.052557.

Shiba Inu's team has engaged Hexens, Seal 911, and PeckShield for investigation and forensic analysis. The offer is for the return of K9 Finance tokens, and the return would be settled via the deployed contract.

The top priority of Shibarium is protecting the network and community assets. After the exploit, Shibarium's developers have been working diligently to secure key transfers and restore stake-manager funds. Shiba Inu developer Kaal Dhairya noted that once secure key transfers are completed and validator control integrity is verified, the stake manager funds will be restored in full.

In an effort to mitigate further losses, Shibarium has extended a peace offering to the attacker. The bounty offer expires in 30 days and starts shrinking after seven days. The offer is part of Shibarium's commitment to maintaining the security and integrity of its platform and ecosystem.

Despite the recent setback, the Shibarium ecosystem continues to trade. SHIB is currently trading at $0.00001301, marking a 6.28% decline in the past 24 hours. BONE has also seen sharp volatility, posting a 38% drop since September 14, trading at $0.1928. KNINE token recorded losses, trading at $0.052557.

As the investigation continues, the Shibarium community remains hopeful that the stolen funds will be recovered and the network's security will be strengthened. The team's swift response and commitment to transparency are a testament to their dedication to the Shibarium ecosystem.