The Shiba Inu exploit on Shibarium was a validator-key compromise that let attackers control the bridge, drain roughly $2.4M in assets and push a malicious state; SHIB and BONE prices plunged as the network lost trust while developers work to restore validator integrity.
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10 of 12 validator keys were compromised, allowing bridge funds to be misused.
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Attackers moved 224.57 ETH and 92.6 billion SHIB, then bought 4.6 million BONE to manipulate the validator set.
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Combined confirmed theft ~ $2.4 million; SHIB dropped from $0.0000142 to $0.0000135–$0.0000138, risking deeper correction.
Shiba Inu exploit: Shibarium validator compromise drained ~$2.4M and hit SHIB/BONE prices — read the full impact and mitigation steps. Stay informed with COINOTAG.
What is the Shiba Inu exploit on Shibarium?
Shiba Inu exploit refers to a Shibarium Layer-2 validator-key compromise that allowed attackers to misuse bridge funds and force a malicious state. The breach resulted in confirmed thefts totalling about $2.4 million and immediate negative price moves for SHIB and BONE.
How did attackers compromise Shibarium validators?
Attackers obtained 10 of 12 validator keys and used stolen bridge assets — 224.57 ETH (≈ $1.0M) and 92.6 billion SHIB (≈ $1.3M) — to buy 4.6 million BONE, briefly taking control of the validator set. They pushed a malicious state before controls could block the action, per on-chain transaction traces and block-state analysis.
Source: TradingView
Why did SHIB and BONE prices react sharply?
Market confidence fell immediately after the exploit. SHIB fell from approximately $0.0000142 to near $0.0000135–$0.0000138, testing a fragile support established in late August. BONE spiked 54% during the manipulation and then collapsed roughly 46% as trust evaporated.
When could SHIB support levels break and what would it mean?
If SHIB slips below $0.0000130, the late-summer base would be invalidated and a deeper correction could follow. Traders are watching $0.0000135–$0.0000137 as immediate support; breach of $0.0000130 would likely accelerate downside pressure given reduced appetite for dip-buying amid security concerns.
Frequently Asked Questions
How much did attackers take from the Shibarium bridge?
Attackers withdrew 224.57 ETH and 92.6 billion SHIB. The combined value reported is approximately $2.4 million, based on contemporaneous price levels and on-chain transaction records.
Will SHIB recover after the exploit?
Recovery depends on prompt technical remediation and restored confidence. If developers demonstrate key rotation, validator hardening and transparent audits, market sentiment could improve; without that, downside risk remains high.
How can users check if they were affected?
Users should review their bridge transaction history and Layer-2 balances on-chain. If funds were routed through the compromised bridge during the incident window, funds may be at risk until project remediation is completed.
Key Takeaways
- Validator compromise: 10 of 12 keys were controlled, enabling a malicious state push.
- Confirmed losses: About $2.4M in 224.57 ETH and 92.6 billion SHIB were moved.
- Market impact: SHIB support near $0.0000135–$0.0000137 is fragile; $0.0000130 is a critical level to monitor.
- Remediation steps: Pause bridge activity, rotate keys, audit chain state, and publish transparent incident reports.
Conclusion
This Shiba Inu exploit on Shibarium underscores the operational risk in Layer-2 validator models. COINOTAG reports that swift key rotation, audits and clear communication are essential to restoring trust. Market participants should monitor official project updates and on-chain indicators while custodial and bridge services remain suspended pending fixes.
