Was in IRL meetings all day today in Bahrain🇧🇭, including one on stage fireside chat.
What a blood bath in crypto today! Not too sure what happened, but I think it started with FUD (false news) about Alpha not going to list certain coins in the future, which soon proved to be wrong. But the FUD already done its damage. This is the unfortunate power of FUD when enough people get fooled by it.
People often give me too much credit, in good times and bad. I didn't do anything. Was busy all day.🤷♂️
I often see titles like "BlackRock sold BTC", "Binance sold BTC". The correct titles should be "BlackRock's clients sold BTC". "Binance's users sold BTC".
Lastly, I support decentralized self-custody wallets for accessing memes, or any crypto.
Manage risks properly. And keep building!
Join our MSI Insider livestream on Wednesday 17th for a special giveaway. We will be giving away 1 OLED Gaming monitor. For more details, please join us at our livestream: https://t.co/xKrzMIQctk. See you then!
Shibarium Bridge Exploit Community Update 17/09/2026
The attacker executed a flash loan swap to acquire 4.6M $BONE from Shibaswap & used those to delegate them to Ryoshi Validator 1. This gave the attacker > 2/3 majority voting on Shibarium validators & the ability to use the compromised internal validators to sign a malicious state to the chain, allowing them the steal $4.1M USD from the Shibarium bridge
17 different tokens were taken from the bridge. This included:
$1m of ETH
$1.3m of SHIB
$717k of KNINE
$680k of LEASH
$260k of ROAR
As well as smaller amounts of TREAT, USDC, USDT, BAD, SHIFU, FUND, DAI, LTD, XFUND, WBTC, & OSCAR
The attacker only sold their USDT & USDC to ETH & they attempted 7 times to sell their KNINE before the @k9finance DAO was able to blacklist their wallet. All other tokens listed above are in control of the attacker and are at risk.
The leading possibility for the root cause of the attack was a compromise of internal validator keys either from the developer machine or the server's KMS.
We have suspended bridge operations, launched forensic analysis, & there is a significant loss of user funds on Shibarium. The team has now flagged all transactions and removed access to predicate of CCIP connector in cross chain contract, which initially was suspected as the point of attack. It was unrelated.
Other actions include:
- Revoking the root chain manager access from the POS bridge to disable the bridge
- Increased half exit time of plasma bridge
- Removed predicate burn only from registry in plasma to prevent withdrawals
& more to be share soon.
The Shib team has offered the attacker a 50 ETH bounty for the return of these stolen funds. Full details here :
https://t.co/1uCqgKrpDx
We will improve monitoring & alerting and continue to increase internal security practices.
A full post mortem report will follow with more details.
🐶🔥 Big moves at #1001FestivalSeoul@Shibtoken is joining the @LBankLabs game section with the iconic Dalgona Challenge 🍪
Get ready to play and win at the $SHIB booth 👇
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 transaction like a flash transaction
• With this, they were able to sign a malicious state on Shibarium.
• The flash loan-like transaction was repaid using assets drained from the bridge: 224.57 ETH & 92.6B SHIB.
• Importantly, because the BONE remains delegated to validators, it is currently locked and cannot be withdrawn.
Validator compromise:
• Evidence indicates 10 of 12 validators’ signing keys were compromised.
• Only @K9finance and @UnificationUND validators refused to sign the malicious state.
• Without the flash loan, ($1m BONE bought and delegated in 1 transaction using the hacked funds) the attacker would not have achieved the required 2/3 majority.
Assets affected:
• Bridge assets: 224.57 ETH & 92.6B SHIB.
• The attacker attempted to sell ~$700K in KNINE but all attempts failed after @K9finance DAO multisig blacklisted their address.
• Additional tokens impacted (LEASH, ROAR, TREAT, BAD, SHIFU) have not been moved or sold at this time.
Immediate actions taken:
• Paused stake/unstake functions to protect community assets.
• Transferred stake manager funds from proxy contracts to a secure 6/9 hardware multisig.
• Partnered with Hexens, Seal911, and PeckShield for a full forensic investigation.
Next steps:
• Secure validator key transfers and confirm full chain integrity.
• Restore stake manager funds once security is assured.
• Continue coordinating with partners to freeze attacker-linked funds
• Publish a full incident report once investigations conclude.
Our commitment:
The #ShibArmy deserves clarity and accountability.
This is a fast-moving investigation, and we are working around the clock with leading security partners. Please bear with us — verified updates will be shared as soon as possible.
Attacker address: https://t.co/RkF74BCioL
🚨 Shibarium Bridge Security Update 🚨
Earlier today, a sophisticated ( probably planned for months ) attack was carried out using a flash loan to purchase 4.6M BONE. The attacker gained access to validator signing keys, achieved majority validator power, and signed a malicious state to drain assets from the bridge.
Because the BONE was delegated to Validator 1, it remains locked (due to unstaking delays), giving us the chance to freeze those funds.
⸻
🔒 Immediate Actions Taken
•Paused stake/unstake functionality as a precaution.
•Moved stake manager funds out of the proxy into a hardware wallet controlled by our trusted 6/9 multisig.
•This move is temporary until we fully confirm the extent of any validator key compromise.
⸻
✅ Next Steps
Once secure key transfers are completed and validator control integrity is verified, the stake manager funds will be restored in full.
Our top priority is protecting the network and community assets. We will continue to provide transparent updates as the investigation progresses.
⸻
⚠️ Important Notes
•We are currently in damage control mode and do not yet know if the breach originated from a server or a developer machine.
•We are actively working with Hexens, Seal 911, and PeckShield to investigate the incident.
•Authorities have been contacted. However, we are open to negotiating in good faith with the attacker: if the funds are returned, we will not press any charges and are willing to consider a small bounty.
ShibaSwap just levelled up.
Full UI glow-up + true cross-chain swaps 🔀
💥 Swap across 17+ networks
⚡️ Choose fast or cheap with smart routing
🎯 Modern, mobile-first UI
The future of $SHIB DeFi is here.
ShibaSwap Extends Across Ethereum, Polygon, Arbitrum, Base, and More to Strengthen the Shib Ecosystem
What it does
The newest release of ShibaSwap broadens the platform into a true multi-chain venue. Traders can now exchange tokens directly between Ethereum, Polygon, Arbitrum, Base, and a wide set of additional networks. A routing system evaluates multiple pathways in real time, letting users decide whether to prioritize lower costs or faster settlement.
Liquidity management has been streamlined with a consolidated command center. All pool positions, from early V1 models to advanced V2 liquidity ranges, appear in one view. Investors can expand, adjust, or reduce exposure through a straightforward process, while claiming accumulated fees without interrupting their core holdings.
The interface has been redesigned for modern use. Transparent layers create clear navigation, and the platform runs smoothly on mobile, an essential feature in an always-active market. Discovery has been strengthened through new filters and sorting tools, giving traders sharper insights into token activity and pool dynamics.
What it means
ShibaSwap is evolving into a strategic pillar of the Shib Ecosystem. By embedding cross-chain capabilities directly into its exchange, the project removes dependence on external bridges and reduces complexity for new participants.
For liquidity providers, the unified dashboard standardizes workflows and creates a more reliable environment to manage capital. For active traders, integrated analytics unlock deeper visibility without leaving the platform.
At a broader level, this upgrade positions ShibaSwap to attract liquidity from major blockchains while paving the way for Shibarium integration. It reinforces the Shib Ecosystem as a network that connects community culture with serious financial infrastructure, making ShibaSwap a competitive gateway for the wider DeFi market.