Shibarium Bridge Hit by $2.4M Flash Loan Exploit as Shiba Inu Devs Freeze Network Functions
.png)
The Shibarium bridge, which links Shiba Inu’s Layer 2 network to Ethereum, suffered a $2.4 million flash loan exploit on Friday after an attacker borrowed 4.6 million BONE tokens and allegedly gained access to 10 of 12 validator keys, giving them majority control. The attacker drained 224.57 ETH and 92.6 billion SHIB, along with $700,000 worth of KNINE tokens that were later blacklisted by K9 Finance to block liquidation. In response, Shiba Inu developers froze staking and unstaking functions, brought in security firms Hexens, Seal 911, and PeckShield, and said they are open to offering a bounty if the funds are returned. Despite the incident, BONE briefly spiked in price before falling back, while SHIB gained 4.5% over the past 24 hours