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Shiba Inu’s decentralized finance platform has offered a $23,000 bounty following the Shibarium Bridge attack where hackers drained $2.4 million in assets. The team behind Shibarium is urging the attacker to return the stolen funds leaving a 30 day window for negotiations.
On Monday K9 Finance sent an onchain message to the exploiter confirming that a Shibarium Bridge attack bounty of 5 Ether ($23,000) was live and would start decreasing in value after seven days. The message added:
“Settlement is atomic when we call recoverKnine.If you call accept we cannot cancel the deal. Code is law. Bounty is live. Please, act fast.”
Shiba Inu developer Kaal Dhairya acknowledged the Shibarium Bridge attack in a Saturday X post saying the team had contacted law enforcement but remained open to direct negotiations with the hacker. The developers stressed that restoring network security and protecting user assets after the Shibarium Bridge attack was their top priority.
The Shibarium Bridge attack drained approximately $2.4 million after malicious actors accessed validator signing keys. By using a flash loan to acquire 4.6 million Bone ShibaSwap tokens,the exploiter gained majority validator control and executed a malicious transaction to siphon funds.
In response to the Shibarium Bridge attack, developers paused staking and unstaking functions and secured stake manager funds in a multisig controlled hardware wallet. The team is now working with Hexens, Seal 911 and PeckShield to investigate the breach.
Tokens tied to Shiba Inu tumbled after the Shibarium Bridge attack. SHIB dropped 7%, sliding from $0.0000145 to $0.0000131. K9 Finance’s KNINE token fell 10%, while BONE suffered the steepest drop plunging 38% from $0.31 to $0.19.
The Shibarium Bridge attack also comes amid broader DeFi security concerns. Just a day earlier, THORChain co founder John Paul Thorbjornsen (JP Thor) lost $1.35 million in a DPRK linked scam following a Telegram meeting call, as reported by onchain sleuth ZachXBT.
