Shiba Inu Lead Kaal Dhairya Calls $4 Million Hack ‘Serious Incident’ — Vitalik Buterin Says Focus On Low-Risk DeFi Than Memecoins
Kaal Dhairya, the lead developer of the Shiba Inu (CRYPTO: SHIB) ecosystem, labeled the recent hack incident as “serious” on Sunday, but indicated that the team was able to contain the immediate damage.
Damage Could Have Been Worse, Says Dhairya
In a blog post, Dhairya provided updates about the security breach on Shiba Inu’s Layer 2 network, Shibarium, which resulted in the loss of $4 million in cryptocurrencies.
“This is a serious incident. We’ve contained the immediate damage (it could have been worse) and are working with independent specialists and authorities,” Dhairya said.
Dhairya stated that bridge operations on Shibarium remain restricted, and additional security safeguards have been added to processes, including deposits, withdrawals, claims, and rewards. Additionally, the Bone ShibaSwap (CRYPTO: BONE) tokens, which were used to validator voting power, have been recovered and secured.
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