Shibarium Bridge Hacked: $2.4 Million Losses via Flash Loan exploit
A major security breach hit the Shibarium bridge, resulting in a $2.4 million loss. The hacker exploited a flash loan loophole, gaining control over crucial validator keys.
The intruder borrowed nearly 4.6 million BONE tokens, launching an attack against the network. With control of 10 out of 12 validator keys, they drained ETH and SHIB tokens seamlessly. Developers swiftly reacted by freezing functions and securing remaining funds.
- Attacker drained 224.57 ETH and 92.6 billion SHIB
- Bridge paused; funds moved to multi-signature hardware wallets
- Vortexes safety mechanisms to prevent the attacker from benefiting fully
Shiba Inu’s dev team, led by Kaal Dhairya, considers this a “refined” attack, likely planned for months. The attacker effectively signed malicious commands, draining bridge assets.
Shibarium is now in damage control, collaborating with security companies Hexens, Seal 911, and PeckShield. Developers are also liaising with authorities but remain open to negotiations—if funds are returned, they promise no legal action and a reward.
This incident highlights vulnerabilities in cross-chain bridge security in DeFi. The team plans service restoration after verifying validator integrity and enforcing enhanced security measures.
