Shiba Inu Team Halts 4.6 Million BONE Tokens After Shibarium Bridge Incident

Security Breach and Response: The Shiba Inu development team froze 4.6 million BONE tokens after a sophisticated attack on the Shibarium bridge, which involved a flash loan exploit that compromised validator signing keys. Immediate actions included suspending staking functions and transferring funds to a secure hardware wallet.

Collaboration and Investigation: Security firms are working with the Shiba Inu team to investigate the breach, and law enforcement has been notified. The team has also offered a bounty to the attackers for the return of the stolen funds, promising no legal action.

Market Reaction: Following the freezing of the tokens and the containment measures, the price of BONE increased by 22.22%, indicating investor confidence in the team's ability to handle the security threat effectively.

Ecosystem Developments: The Shibarium bridge is essential for transferring tokens within the ecosystem, and recent developments include warnings about Discord scams and the upcoming LEASH V2 token migration, along with a major upgrade to ShibaSwap for improved trading capabilities.