Shibarium Bridge Flash Loan Attack Details 

On September 14, the Shibarium cross-chain bridge became the target of a sophisticated flash loan attack. The hacker borrowed 4.6 million BONE tokens and gained control of 10 out of 12 validator signing keys, achieving a two-thirds majority. Using this power, the attacker attempted to withdraw approximately 224.57 ETH and 92.6 billion SHIB. 

Shiba Inu developers acted quickly to suspend staking and unstaking functions, locking the BONE tokens and removing majority control from the attacker. In addition, the hacker held about $700,000 worth of KNINE tokens from the K9 Finance DAO project. The K9 Finance DAO denylisted the attacker’s address to prevent KNINE token liquidation. LEASH, ROAR, TREAT, BAD, and SHIFU coins were also affected but have not been moved or sold. 

UPDATE 13/09/25

What we know so far about the recent incident

How the exploit was executed:

• The attacker used funds from the bridge hack in the same block as the attack to acquire 4.6M BONE to temporarily gain validator voting power, attempting to do it in one… https://t.co/4Ft1VMxeBv

— Shib (@Shibtoken) September 13, 2025

Developer Actions and Security Measures 

The Shiba Inu team secured investor funds by transferring them from proxy contracts to a multisig cold storage wallet. They collaborated with security firms Hexens, Seal911, and PeckShield to conduct a thorough investigation. The developers confirmed that the 4.6 million BONE tokens remain locked, and all validator assets are secure. They continue monitoring and freezing attacker-linked funds while preparing a full incident report. 

Market Impact and Token Performance 

Despite the attack, BONE token surged by 40% while SHIB gained over 8%. These movements reflect investor confidence following the team’s rapid intervention. The Shibarium attack highlights DeFi ecosystem risks, but Shiba Inu’s swift measures ensured all funds stayed safe. 

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The post Shibarium Shiba Bridge Hit by $2.3M Flash Loan Attack! appeared first on Coin Engineer.

Rune Christensen, the co-founder of MakerDAO (MKR), made significant purchases of Shiba Inu (SHIB) tokens on March 1st and 3rd. His acquisitions totaled 7.41 billion and 17.62 billion SHIB tokens respectively. Notably, between Christensen’s two purchases, SHIB‘s price surged by 60%. Following his latest acquisition of $400,000 worth of SHIB, the token’s price jumped by an additional 20%.

However, Christensen isn’t the only crypto founder involved in SHIB transactions. Justin Sun, founder of Tron (TRX), recently transferred $544,400 worth of SHIB to Poloniex from cold storage. This move suggests Sun may be considering booking profits, contrasting Christensen’s bullish stance on SHIB‘s long-term potential.

As of now, SHIB is trading at $0.00002691, marking a remarkable 182.50% increase over the past seven days. Despite being 89.51% down from its All-Time High (ATH) on February 25th, recent price surges have altered SHIB‘s trajectory, bringing it 74.38% closer to its 2021 high.

From a technical standpoint, SHIB‘s Fibonacci extension suggests potential for further price increases. The 0.618 Fib level sits at $0.000030, indicating profitable entry points for long-term investors. Additionally, the 3.618 Fibonacci extension projects a potential price target of $0.000070, offering hope to long-term token holders.

Recent technical indicators support SHIB‘s bullish outlook, with the 50-day Exponential Moving Average (EMA) crossing over the 200-day EMA, signaling a solid bullish trend. Furthermore, the Chaikin Money Flow (CMF) indicates increasing buying pressure, with a reading of 0.18 at the time of writing.

However, traders should remain vigilant as a CMF crossing of 0.20 could indicate overbought conditions, potentially leading to a price retracement. Nonetheless, a downward reversal does not necessarily signify the end of bullish momentum, but rather a temporary cooldown before potential resumption.

The post SHIB Price Surges as Executives Make Moves – Here’s What’s Happening appeared first on Coin Engineer.