Particle.news
Download on the App Store
12 ARTICLES
·
3w ago

Shibarium Freezes 4.6M BONE After $2.4 Million Bridge Exploit as Probe Widens

Investigators are working to restore validator security following the $2.4 million bridge drain.

'We are aware...': Shiba Inu team responds after $2.4 mln Shibarium bridge attack
Memecoins under pressure as shib, dogecoin slide after shibarium loses $2.4m in hack
Bone price surges 40% after shibarium flash loan exploit
Image

Overview

  • An attacker used a single-block, flash-loan-style purchase of 4.6 million BONE to briefly gain validator control and sign a malicious state.
  • The maneuver drained about $2.4 million from the bridge, including 224.57 ETH and 92.6 billion SHIB.
  • Investigators report 10 of 12 validator signing keys were compromised, while validators run by K9 Finance DAO and Unification refused to sign.
  • Developers paused staking and unstaking, froze the 4.6 million BONE that remains locked under staking rules, secured funds in a 6-of-9 hardware multisig, and engaged Hexens, Seal911 and PeckShield.
  • Law enforcement was alerted and the team offered leniency with a small bounty for returned funds, as K9 Finance also froze an attempted $700,000 KNINE sale.