Shibarium Team Ready to Revive Ethereum Bridge with Compensation Plan!

Jakarta, Pintu News – After successfully recovering 4.6 million stolen BONE tokens, the Shibarium development team is preparing to reactivate the Ethereum bridge and devise a compensation plan for affected users.

Post-attack Recovery

The Shibarium team has announced that they are preparing to revive the Ethereum bridge connected to their platform. This follows a security incident that resulted in a loss of around $4 million earlier this month.

In the released report, the team confirmed that all validator keys have been replaced and over 100 ecosystem contracts have been moved to more secure wallets. Additionally, the team managed to recover 4.6 million BONE tokens that were previously stolen by the attackers.

The attack occurred on September 12, when a hacker entered false data into an Ethereum-linked contract on Shibarium, resulting in the system automatically shutting down as a precaution.

The hacker briefly deposited millions of dollars in BONE tokens, which is Shibarium’s governance token, in an attempt to meet the validator threshold and gain partial control over the network.

Also read: Avalanche ecosystem grows rapidly, number of smart contracts triples!

Impact and Feedback

As a result of the attack, hackers managed to drain approximately $4.1 million in Ethereum (ETH), Shiba Inu (SHIB), and 15 other tokens from the bridge. According to a September 17 community update, Kaal Dhairya, the lead developer, had contacted authorities and offered to negotiate with the hackers, including a bonus of 50 ETH (about $225,000 at the time) if the stolen assets were returned.

However, no agreement was reached and the funds have been moved. The development team has assured that a compensation framework is being designed to compensate users affected by the breach, although the details are yet to be finalized.

This attack has had a significant impact on the Shibarium ecosystem tokens. SHIB is down about 13% since the day of the attack, trading at $0.00001269, while BONE is down more than 43%, trading at $0.1391.

Also read: MetaMask Launches $30 Million LINEA Token Rewards Program!

Network Prioritization and Security

Despite the price drop, the developers emphasized that the protocol remains operational and strengthening network security remains their top priority as they approach the bridge relaunch. The team has taken important steps to ensure the security of user assets and data by updating and securing all contracts and validator keys associated with the network.

The developers are also committed to transparency and will continue to provide updates to the community as they progress in fixing and improving the infrastructure. User trust is a priority, and the team strives to restore and maintain that trust through their actions.

Conclusion

With recovery measures already taken and compensation plans under development, Shibarium is working hard to overcome the impact of the attack and strengthen their systems. The community is expected to support these efforts while looking forward to more updates from the development team.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto Times. Shibarium Team Prepares Bridge Restart with Reimbursement Plans. Accessed on October 6, 2025
• Featured Image: Coinstats