A hacker exploited loopholes in the Shiba Inu’s Shibarium network and drained out funds worth $4.1 million. The team, along with K9 Finance, is blocking the hacker from moving the funds to his or her personal account. In a latest update from SHIB, the team confirmed that they have suspended all bridge operations on Shibarium. They have also launched a forensic analysis to nab the scamster.
“We have suspended bridge operations, launched forensic analysis, & there is a significant loss of user funds on Shibarium. The team has now flagged all transactions and removed access to predicate of CCIP connector in cross chain contract, which initially was suspected as the point of attack. It was unrelated,” read the tweet from SHIB token.
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Hacker Drains Funds From 17 Different Tokens on Shibarium
The latest tweet from SHIB token confirms that the hacker drained funds on Shibarium from over 17 different tokens. The tokens are Ethereum, Shiba Inu, KNINE, Leash, ROAR, Treat, USDC, USDT, BAD, SHIFU, FUND, DAI, LTD, XFUND, WBTC, and OSCAR. The bad actor sold USDT and USDC to Ethereum but tried to sell KNINE tokens; however, the wallet was blocked and blacklisted by K9 Finance. All other tokens are still in control of the hacker and are trying to cash out, but are being closely watched.
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The team is investigating the root cause of the attack and what led to the compromise of the internal validator keys. The SHIB team has also offered a 50 ETH bounty for the return of the stolen funds. “The attacker only sold their USDT & USDC to ETH and they attempted 7 times to sell their KNINE before the K9 Finance DAO was able to blacklist their wallet. All other tokens listed above are in control of the attacker and are at risk,” they said.
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