Shiba Inu Freezes 4.6 Million BONE Tokens After Shibarium Bridge Hack
- The Shiba Inu team froze 4.6 million BONE tokens linked to a recent hack.
- The hack was identified by blockchain security firm PeckShield, which alerted developers about suspicious activity.
- Attackers executed a flash loan exploit, compromising validator signing keys to gain control of the Shibarium bridge.
- Stolen tokens were locked due to staking restrictions, allowing the team to freeze them and pause staking functions temporarily.
- Investigations are ongoing with assistance from security firms Hexens and Seal 911, and authorities have been notified.
- BONE token price rose by 41% in the last 24 hours following the emergency freeze.
The emergency freeze of BONE tokens comes as part of a damage control strategy after an attack on the Shibarium bridge, critical for transferring assets between Ethereum and Shibarium. This incident underscores ongoing security concerns within the cryptocurrency ecosystem.
The swift action taken by the Shiba Inu team highlights their commitment to protecting community assets, as seen in their response to freezing 4.6 million BONE tokens. (Source)
