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Shibarium plans to relaunch the Ethereum cross-chain bridge and formulate a compensation plan

Shibarium plans to relaunch the Ethereum cross-chain bridge and formulate a compensation plan

ChaincatcherChaincatcher2025/10/04 01:32
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ChainCatcher news, according to The Block, Shibarium developers stated that they are preparing to relaunch the platform's Ethereum cross-chain bridge and are formulating a compensation plan to reimburse users for losses incurred due to a vulnerability that triggered an emergency shutdown earlier this month.

The team's latest post-mortem analysis indicates that all validator keys have been rotated, over 100 ecosystem contracts have been migrated to secure wallets, and within days after the attack, 4.6 million BONE tokens were recovered from the attacker's contract. According to the community update on September 17, the attacker stole approximately $4.1 million worth of ETH, SHIB, and 15 other tokens from the bridge. Shortly after the attack was discovered, Shibarium developer Kaal Dhairya stated on X that they had contacted the relevant authorities, but the team was willing to negotiate with the attacker in "good faith." He also mentioned that if the attacker returned the stolen funds, a reward of 50 ETH—worth about $225,000 at the time—would be offered.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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