Shibarium, the layer-2 blockchain closely linked to Shiba Inu, remains offline weeks after suffering a major hack.
Developer Kaal Dhairya confirmed that the bridge to Ethereum is still suspended, leaving users unable to transfer funds back to the main network. The team has not set a date for reopening, emphasizing that security checks and verification come before speed.
The breach occurred on September 12 and was first flagged by security firm PeckShield. Attackers exploited validator vulnerabilities, gaining control of 10 out of 12 keys and using them to approve fraudulent transactions. This allowed them to siphon off roughly $2.3 million worth of assets, including ETH, SHIB, and ROAR. The Shiba Inu team later validated the findings, calling the incident one of the most severe disruptions in the project’s history.
Since then, developers have adopted a cautious communication strategy. Updates are being shared only through official channels, while sensitive details are being withheld to prevent giving the attacker an advantage. The focus now is on containment and reinforcing system security to ensure that a similar exploit cannot happen again.
One of the biggest uncertainties surrounds asset recovery. Dhairya has said that discussions are ongoing, but no plan has been finalized. If the funds cannot be reclaimed through investigations or bounty programs, alternatives such as drawing from the treasury, burning tokens, or tapping into insurance reserves are being considered. Any proposal would need approval from the community before implementation.
For investors and token holders, the prolonged shutdown of Shibarium is raising questions about trust and stability. The incident comes at a time when layer-2 projects are under growing scrutiny, and the outcome of Shiba Inu’s response could influence how its ecosystem is perceived in the broader market.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/shibarium-bridge-stays-frozen-after-2-3m-hack-recovery-plan-unclear/
