Shibarium Bridge operations remain on hold after a significant hack earlier this month, according to an update from Shiba Inu developer Kaal Dhairya. Users are currently unable to transfer assets back to Ethereum due to this breach. The team is prioritizing security and verification before reopening the bridge, with updates to be shared through official channels.
On September 12, blockchain security firm PeckShield detected a potential compromise of the Shibarium Bridge. This incident was later confirmed by the Shiba Inu team after further investigation. The attacker manipulated the system to gain control over validators, enabling them to submit false exit requests. A total of 10 out of 12 validators were compromised, allowing the hacker to withdraw approximately $2.3 million worth of assets, including ETH, SHIB, and ROAR.
Asset Recovery Challenges
The asset recovery process remains uncertain as the team continues to focus on containment to prevent further losses. Kaal Dhairya has noted that developers are working on strengthening the system to avoid future attacks. A detailed redemption plan will be communicated to users once all security issues are addressed.
If the recovery of the stolen funds through investigations or bounties proves unsuccessful, alternative options will be considered. These may include utilizing the treasury, burning tokens, or employing an insurance fund. Any proposed solution will require community approval before implementation.
Shibarium Bridge Moving Forward
The Shibarium team remains dedicated to restoring normal operations while ensuring enhanced security measures are in place. Although specific details are not being disclosed to avoid aiding the attackers, the team assures users that comprehensive updates will be provided once the situation is stabilized.
As developers work tirelessly to address these challenges, the community eagerly awaits the reopening of the Shibarium Bridge. The focus remains on creating a secure and reliable platform for all users.
