The Shiba Inu ecosystem's layer-2 network Shibarium is preparing to relaunch its bridge following a $4 million attack that took place last month. Announcements have been made regarding a reimbursement plan to help users recover from the incident. In a statement made on Thursday, it was emphasized that the Ethereum bridge would be reactivated and a plan is underway to compensate users affected by the attack.
The Shibarium development team has announced that all validator keys have been changed, over 100 smart contracts have been moved to secure wallets, and 4.6 million BONE tokens have been recovered from the attacker's contract. The attack occurred on September 12, when a hacker sent false data to Shibarium's Ethereum-linked smart contracts. This caused the system's automatic security shutoff mechanism to activate.
At the same time, the attacker attempted to stake millions of dollars worth of BONE tokens to gain control over the network. It was expressed by Shibarium developer Kaal Dhairya that "good faith" discussions were held with the attacker. However, these discussions were inconclusive and no agreement could be reached. A large portion of the stolen assets still remains in the attacker's possession.
Following this attack, the price of SHIB dropped by 13 percent, while the price of BONE fell by 43 percent. The development team stated that they are strengthening the bridge's security infrastructure to regain users' trust and that new details regarding the reimbursement process will be shared soon. It will be important for investors to follow these developments and monitor the fluctuations of Shibarium.
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Shiba Inu, Ethereum, Shibarium, BONE token, price analysis, crypto market, security, refund plan.
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