Shibarium Bridge Exploit Triggers 11.5% Drop in SHIB

SHIB price dropped 11.5% after a $2.4M Shibarium bridge exploit.

The attacker used a flash loan to control 10 of 12 Shibarium validators.

BONE token plunged 43.5%, deepening investor concerns and market uncertainty.

Shiba Inu holders were met with a rude awakening after a startling security incident impacted the network. A month later, on September 13, August 31, SHIB fell from a gallon-high of $0.00001482 to $0.0000131. Striking price action of 11.5%. Traders did not know what to believe when an attacker drained millions from the Shibarium bridge. Confidence broke down in the Shiba community; across wallets and emotions.

Attack on the Shibarium Bridge

Investigators revealed that the attacker borrowed 4.6 million BONE through a flash loan. With that maneuver, control of 10 of 12 Shibarium validators fell into hostile hands. Assets worth $2.4 million then vanished from the bridge, leaving community members stunned. The event struck like a thief in the night, sparking panic among traders and igniting debate across social channels. Many compared the scene to a fortress left unguarded, vulnerable to a single clever intruder.

The damage extended beyond numbers. Holders of BONE, the governance token for Shibarium, faced an even deeper wound. BONE tumbled from a monthly high of $0.341 to just $0.1926, a brutal 43.5% collapse. That sharp descent echoed through the market like a warning bell, urging caution and demanding answers. Investors questioned the security of the entire Shibarium ecosystem, fearing more hidden weaknesses.

The reputation of SHIB took a heavy blow as traders struggled to process the breach. Some long-term believers spoke of betrayal, while newcomers wondered whether to abandon positions. A token often described as a loyal companion suddenly felt more like a restless animal, difficult to tame.

Team Response and Lingering Doubts

The Shibarium team swiftly denied that the occurrence was a hacking of any sort. Developers noted that the assailant used stolen validator keys, not the protocol code at the core of or within the Shibarium system. They stated that only a little Ethereum and Shiba Inu tokens were transferred during the exploit. The missive aimed to calm frayed nerves but some suspicion remained.

Community members voiced frustration and demanded a full investigation. Questions filled forums and chat groups like storm clouds gathering before heavy rain. How could someone gain control of nearly the entire validator set without triggering alarms? The lack of a clear answer kept anxiety high and trading volumes volatile.

Despite the team’s reassurances, market sentiment remained uneasy. Traders feared that another attacker might mimic the same strategy. The shadow of doubt hovered over both SHIB and BONE, cooling enthusiasm that once burned bright. Analysts warned that restoring trust could take weeks or even months.

Shiba Inu plunged 11.5% after a calculated strike on the Shibarium bridge. The attacker used a flash loan to seize validator control and drain $2.4 million. BONE holders suffered a 43.5% price collapse, deepening concerns across the ecosystem. Official statements sought to calm investors, yet skepticism persists as the community demands stronger safeguards and clearer answers.