Key dishes to remember
The Shibarium bridge underwent a 2.4 million dollars flash loan attack, compromising 10 of the 12 validators, draining ETH and SHIB.
On September 13, the Shibarium bridge, a key link between layer 2 network of Shiba Inu (Shib) and Ethereum (ETH), was struck by a flash loan attack.
The feat drained nearly millions of millions, forcing the developers Shiba Inu to quickly restrict certain network activities while working to contain the benefits.
Noticing on the same, the official X (formerly Twitter) of Shiba Inu noted
“We are aware of the activity reported by @peckshield and have hired our internal team and our external security partners to investigate.”
Details of the feat
The attacker has executed a sophisticated style of style ready for shine against Shibarium, taking advantage of the stolen bridge funds to handle the network consensus.
In a single block, they used the siphone assets to buy 4.6 million bone tokens, temporarily gaining the validator’s voting power.
This decision enabled them to sign a malicious state on the network before reimbursing the loan with assets drained from the bridge, in particular 224.57 ETH and 92.6 billion priests.
The twist of the plot
Although the attacker has stolen these funds, the bone tokens remain locked because the validators still maintain them, preventing immediate liquidation.
A more in-depth investigation revealed that the violation extended beyond the bridge, compromising 10 of the 12 validator signature keys, while only the K9 finance and the unificationd have refused to validate the fraudulent state.
The attacker relied on the purchase of a flash loan to reach the majority of two -thirds necessary; Otherwise, the feat would have failed.
They drained Eth and Shib and tried to liquidate $ 700,000 in Knine tokens, but K9 Finance Dao blocked the attempt.
Other tokens, including the leash, roar, treatment, evil and shifu, have not been affected, although their future has remained uncertain in the midst of growing security problems.
Measures taken by shibarium developers
Shortly after the feat, Shibarium developers acted quickly to contain damage and protect community assets.
They interrupted fun and gap functions to prevent new vulnerabilities from being exploited.
The team has transferred funds for proxy contracts to a more secure multisig portfolio of 6 out of 9, ensuring that no part could move assets unilaterally.
To strengthen the survey, they have joined the main security companies of the Blockchain Hexens, Seal911 and Peckshield, trying them with a complete medical-legal examination of the breach.
The developers now secure the transfer of validator keys, confirming the integrity of shibarium, protecting user assets and coordinate with partners to freeze the portfolios linked to the attacker.
Impact on bones and shibs
On the price front, the Shibarium feat pushed the OS to increase sharply to $ 0.294 before going back to $ 0.2057. This marked a daily drop of 12%, according to CoinmarketCap.
Shib also slipped slightly, lowering from 1.01% to $ 0.00001393.
Ambcrypto’s recent analysis has shown that Shib was still above a key demand area. However, the weekly graph said that bears can regain control.
With the assembly of volatility and the confidence of shaken investors, the community is now faced with a critical test. Can Shiba Inu developers restore stability before additional sales settled?