Shibarium Bridge Falls Victim To $2.4 Million Drain Attack – Details
Shibarium, the Ethereum-based Layer 2 scaling solution built around the Shiba Inu ecosystem, has suffered a major security breach, leading to the loss of about $2.4 million in assets. The drain attack has since prompted intense immediate emergency responses. Related Reading: US Authorities Seize $600K USDT From Iranian Drone Program Operator – Details Hacker Uses […]
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Shiba Inu’s core team has issued a sweeping post-mortem update on the Shibarium bridge breach, detailing a multi-step attack that combined a flash-loan powered governance capture with compromised validator keys—followed by emergency protocol changes and a split bounty offer aimed at recovering user funds. Shiba Inu Devs Speak Out On Shibarium Bridge Exploit In an […]
Shiba Inu’s development team has announced a significant advancement in the SHIB ecosystem. With the introduction of the Shibarium Bridge, users will have a new way to interact with the ecosystem. However, as this technology is still in its beta phase, the team behind Shiba Inu (SHIB) is urging the community to exercise caution. A team representative known as Lucie recently announced the Shibarium Bridge’s beta release. This addition to the Shibarium network was first introduced to the public in April and has since progressed from being partially functional to undergoing public....
Following a significant exploit that compromised its Shibarium bridge, developers behind Shiba Inu (SHIB) have released a detailed update outlining their response to the incident. Shibarium Team Implements New Security Measures According to a post-mortem report, the malicious attack involved a perpetrator submitting three fraudulent checkpoints to Shibarium’s Ethereum mainnet contracts, disrupting the continuity between […]
The top 100 DeFi tokens had a mixed price action over the past week, with many seeing a downturn after some bullish action last week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.This past week, the DeFi ecosystem saw two exploits, one after another, resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of what many deemed a decentralized robbery, which saw almost $190 million drained out of their....
One of Turkey’s most prominent crypto exchanges BtcTurk has suffered a cyber attack leading to unauthorized access to some of its hot wallets. The exchange has reported some level of asset loss, however, they claim enough financial stability to overcome this setback. Related Reading: May Madness: Crypto Industry Suffers $385 Million Loss To Hackers $5.3 […]