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.
10 of 12 validator keys were compromised, allowing bridge funds to be misused.
Attackers moved 224.57 ETH and 92.6 billion SHIB, then bought 4.6 million BONE to manipulate the validator set.
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.
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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.
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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.
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