Oh, the drama! The Shiba Inu ecosystem is in a tailspin after a sneaky exploit on Shibarium’s bridge tried to make off with a cool $1 million in BONE tokens. 🦴💨 What a ruff day for the doggos!
On-chain data barked loud and clear: someone tried to move 4.6 million BONE tokens, but the developers were quicker than a greyhound at the races. 🐾
Shiba Inu Bridge Exploit: A Comedy of Errors During ShibaSwap’s Big Upgrade 🎭
On September 13, Kaal Dhairya, a Shiba Inu developer, wagged his finger and said, “It’s not our fault! The attacker stole the validator keys and went on a wild ride.” 🚀 No protocol flaws here, just a sneaky thief with a flash loan and a dream. 💡
Turns out, this wasn’t a spur-of-the-moment heist-months of planning went into this bone-headed scheme. 🕵️♂️
The community’s Sherlock Bones (aka independent investigators) sniffed out the details. 🐕🦺
According to Buzz, a K9 FinanceDAO wag, the exploiter used a flash loan on ShibaSwap to buy millions of BONE, temporarily becoming the top dog in validator voting. 🐶📈
The hacker used a flash loan from Shibaswap for 4.6M BONE (the $1m BONE buy people were celebrating) and delegated it to win majority voting power over the validators, which allowed them to sign a malicious state on the chain. The hacker *may* have known that they compromised… 🐾💥
– Buzz.eth (@buzzdefi0x) September 13, 2025
With that power, they pushed through a malicious transaction and repaid the loan with stolen funds. Classic “rob Peter to pay Paul” move. 🤦♂️
In total, 224.57 ETH and 92.6 billion SHIB tokens were swiped. But the real kicker? 216 ETH went back to settling the loan, and the BONE tokens got stuck in unstaking limbo. Developers froze them faster than a pup in a snowstorm. ❄️🐶
The attacker also tried to sell $700,000 worth of KNINE tokens, but K9 DAO’s multisig said, “Not on my watch!” and blacklisted the wallet. 🚫📉
Shiba Inu developers hit the pause button on staking operations and moved funds into a hardware wallet with a six-of-nine multisig. Safety first, folks! 🔒
Dhairya called these measures “temporary” until new keys are distributed and the full scope of the incident is confirmed. Stay tuned for the next episode of *As the Blockchain Turns*. 📺
All this chaos happened during the launch of ShibaSwap’s major upgrade, which now spans Ethereum, Polygon, Arbitrum, Base, and more. Direct token swaps without external bridges? Sounds like a dream come true-if only the hackers hadn’t crashed the party. 🎉🚨
Lucie, the Shiba Inu ecosystem lead, said the upgrade makes ShibaSwap a multi-chain powerhouse, ready to attract liquidity and integrate Shibarium deeper. “We’re not just a meme coin anymore,” she barked. “We’re a financial ecosystem with bite!” 🐶💼
“This upgrade positions ShibaSwap to attract liquidity from major blockchains while paving the way for Shibarium integration. It reinforces the Shib Ecosystem as a network that connects community culture with serious financial infrastructure,” Lucie stated. 🎤💥
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2025-09-13 15:54