Shiba Inu Leader Kaal Dhairya Describes $4 Million Hack as a 'Serious Incident' — Vitalik Buterin Advocates for Emphasis on Low-Risk DeFi Over Memecoins
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 22 2025
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Source: Yahoo Finance
Hack Incident Overview: Kaal Dhairya, lead developer of the Shiba Inu ecosystem, described a recent hack on the Shibarium network as a "serious incident," resulting in a loss of $4 million in various cryptocurrencies, including significant amounts of Ethereum and SHIB.
Security Measures and Recovery: The team has restricted bridge operations and implemented additional security measures while recovering the compromised Bone ShibaSwap tokens. Dhairya acknowledged decentralization issues and emphasized safety over a timeline for resuming operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
