Key notes
- The Shibarium exploit drained $2.4 million in crypto assets, with hackers moving 260 ETH through 111 wallets before depositing funds into KuCoin.
- SHIB price rose above key moving averages, reaching $0.00000917 as the team handed over evidence to the FBI and requested cooperation from KuCoin.
- Technical analysis shows continued upside potential towards $0.00001,000 if the bulls maintain momentum above the $0.00000880 support level.
Shiba Inu
SHIB
$0.000009
24h volatility:
6.0%
Market capitalization:
$5.30 billion
Flight. 24h:
$252.30 million
the price rose 8% in the past 24 hours as markets reacted to the team’s response to the Shibarium Bridge exploit that saw hackers launder funds through cryptocurrency mixer Tornado Cash and deposit accounts linked to the KuCoin exchange.
The Shibarium Bridge hacker foolishly chose not to accept the K9 bounty – it’s finally time to share the investigation we’ve been working on…🔎 it’s juicy 🤤
The hacker made a stupid mistake that completely dismantled his Tornado money laundering scheme. 💰🌪️💵
This one mistake… pic.twitter.com/itxsXbbGSm
– Shima 島。 (@MRShimamoto) December 1, 2025
The investigation gained attention on Monday after prominent researcher and Shiba Inu community contributor Shima published a comprehensive analysis of the months-long tracing effort, which revealed how the attacker moved approximately 260 ETH across 111 wallets after seizing the majority of validation keys in mid-September.
The exploit initially drained between $2.3 and $2.4 million in ETH, SHIB, and KNINE before the funds were gradually consolidated and sent into mixers.
Publicly reacting to Shima’s findings, lead developer Kaal Dhairya added that the full evidence would be handed over to the FBI, while also asking for KuCoin’s cooperation.
Excellent work! This must be amplified. I will also ensure that it is sent to @FBI attached to the open investigation report and to the request @kucoincom to cooperate.
– Kaal (@kaaldhairya) December 2, 2025
The emergency follows earlier attempts by Shibarium partner K9 Finance DAO to lure the attacker with a bounty that increased from 5 ETH to a final 25 ETH. The exploiter declined each offer and K9 has since confirmed that unclaimed ETH from the bounty had been returned to contributors, including 20 ETH returned to Shib.io.
Ultimately, Shima traced 232.49 ETH to KuCoin across 48 deposits routed through approximately two dozen funnel wallets. According to the study, KuCoin’s fraud office requested an official case number from law enforcement before freezing or reviewing the implicated accounts.
Thanks to @MRShimamoto for doing all the hard work here to compile this thread. We truly appreciate your diligence and methodical approach.
Hopefully this investigation can continue with the assistance of the relevant authorities. Communities need answers.
– ShibNet
– Shibarium Network (@ShibariumNet) December 2, 2025
The official ShibariumNet team has now endorsed the investigation, emphasizing that coordinated action with authorities is essential as the community seeks transparency.
Shiba Inu (SHIB) Price Prediction: Can Buyers Maintain Momentum Above Key Moving Averages?
Shiba Inu hit a 14-day high, closing near $0.00000917 after printing a strong 8.4% intraday gain 24 hours after the Shibarium team acknowledged the resolution of the fraud investigations.
The chart shows SHIB rebounding strongly from late November lows around $0.00000754, with bullish follow-through increasing the price above the short-term SMA (green) at $0.00000856 and now testing the mid-range SMA (blue) at around $0.00000886.
Shiba Inu (SHIB) Price Analysis | Source: TradingView
This breakout is significant because SHIB has been trading below the 3 moving averages for almost a month, suggesting that sentiment may have shifted decisively in favor of buyers.
The next challenge now is at the longer term 30 and 50 day SMAs, converging towards $0.0000093. A daily close above this band would confirm a trend towards the October highs at $0.000010 as the next target. If the bulls maintain high trading volume, SHIB is likely to withstand minor pullbacks and start forming higher lows.
Holding above $0.00000880 keeps SHIB price in position for a potential push towards $0.00001000, while a return below short-term averages would invalidate the breakout attempt and reestablish bearish control.
Crypto traders on alert as Maxi Doge presale nears $4 million
As Shiba Inu demonstrates renewed strength, the broader coin industry is seeing new momentum. Maxi Doge, a meme-based cryptocurrency that combines business culture and community empowerment, is gaining traction on social platforms.
Maxi Doge Presale
The Maxi Doge presale has now surpassed $3.9 million, closing in on its $4.1 million goal. The project offers leverage up to 1,000x with no stop-loss restrictions. Each MAXI token is currently priced at $0.00026, and the tier is expected to unlock in a few hours.
Interested buyers can visit the official Maxi Doge pre-sale website to secure early allocation and access exclusive early bird bonuses.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with experience supporting various Web3 startups and financial organizations. He completed his undergraduate degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
