The post SHIB Team Freezes 4.6M BONE Following Shibarium Bridge Hack Warning appeared on BitcoinEthereumNews.com.

The Shiba Inu team announced it had frozen 4.6 million BONE tokens linked to a hack. This came after PeckShield highlighted an ongoing attack on the Shibarium bridge. Shibarium Bridge Attack Triggers Emergency Freeze The hack first came to light when blockchain security firm PeckShield flagged suspicious activity to Shiba Inu lead developers.  Hi @ShytoshiKusama, you may want to take a look: https://t.co/mJPx86XUUc pic.twitter.com/979veYkwD9 — PeckShield Inc. (@peckshield) September 12, 2025 Shortly after, developer Kaal Dhairya confirmed the team was probing the matter. In an update, the dev revealed that attackers executed a flash loan exploit to buy 4.6 million BONE tokens. By compromising validator signing keys, the attackers gained majority control and attempted to drain assets from the Shibarium bridge. Because the stolen tokens were delegated to Validator 1, they remain locked due to staking restrictions. This gave the team a chance to freeze them. As part of its damage control plan, Shiba Inu temporarily paused staking functions. They transferred their stake manager funds to a hardware wallet secured by a multisig and began auditing the integrity of all validator keys. The team stressed that protecting community assets is the top priority. Investigations are ongoing with the help of security firms Hexens, Seal 911, and PeckShield. Authorities have also been notified. Notably, the team extended an unusual offer to negotiate with the attacker. They promised not to press charges and even offered a bounty if the stolen funds were returned. This latest episode comes on the heels of another security alert. The Shiba Inu team had warned holders about scammers exploiting expired Discord links to create fake servers. Once inside, unsuspecting users were tricked into “verifying” their wallets. This led to entire balances of SHIB and other tokens being drained in minutes. Shibarium Bridge’s Role in Expanding SHIB’s Layer-2…

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Filed under: News - @ September 13, 2025 9:27 am