Shiba’s army alert: Siba Inu team explains security violation

TL; Dr.

• On Friday, reports arose that the Shiba Inu Shibarium could be pirate after several suspicious transactions.
• The team provided more updates today, indicating that investor funds are safe, and also described what has already been done and what are the next steps.

Shib security incident

After Peckshield marked the suspicious activity on Friday, the official channel of Siba Inu in X said the team had communicated with external security partners to investigate thoroughly. One of the first updates published on Saturday indicated that a sophisticated attack, which was probably planned for months, was carried out using a flash loan to buy 4.6 million bone tokens.

The attacker obtained access to the validator signature keys, reached the power of majority validator and signed a malicious state to drain the assets from the bridge. As the tokens were delegated to validator 1, they remained blocked (due to innovative delays), which allowed the team to freeze them.

A more recent team of the team, replaced by Lucie, said only a “small amount of eth/show” moved. According to another publication, the precise amount was 224.57 ETH (valued at around $ 1 million) and 92.6 billion Shib (with a value of approximately $ 1.33 million).

Other affected chips include belt, roar, treatment, bad and shifu, but have not been transferred or sold from the moment of the position. The attacker also tried to sell Knine for a value of $ 700,000, but failed when the K9finance Dao Multi-Sig Blacklisting in the blacklist of his address.

Are the funds safe and what follows?

The team insisted that all investor funds are safe. The rethinking and innate have been stopped, and all the funds have moved and secured in multiprophyla cold storage. The team has also committed to the main security companies, such as Pckshield, Seal911 and Hexens, to investigate the incident more.

In terms of the next steps, Shiba Inu team said:

• Insurance Validation key transfers and confirm the complete integrity of the chain.

• Restore stake manager funds once security is ensured.

• Continue coordinating with partners to freeze funds related to attackers

• Publish a complete incident report once the investigations conclude.

Despite this incident, the largest native token of the project has shot in the last 24 hours. Shib has won more than 9% of the value and is now about $ 0.0000145, which is the highest level in approximately one month.