The team also noted that the stolen tokens remain blocked and are therefore useless to the attacker.
Shiba Inu’s On-Chain Standoff With Hacker Reaches Final Offer
In an unusual turn of events, the entire negotiation between the Shiba Inu team and the hacker has been recorded publicly on the Ethereum blockchain.
The standoff began when K9 Finance DAO, a key partner of the Shibarium ecosystem, offered a 5 ETH bounty to recover the stolen funds. The hacker refused and demanded 50 ETH, even rejecting a later offer of 20 ETH.
Now, the developers have raised the bounty to 25 ETH, describing it as their final offer. Their message to the hacker combined both an appeal and a warning. The team urged the attacker to accept the reward and move on.
The new 25 ETH bounty offer is built into a smart contract that ensures a fair and secure recovery process. To receive the bounty, the hacker must first approve the transfer of the frozen KNINE tokens. Without this approval, the stolen assets remain locked and unusable.
Shiba Inu Team Strengthens Security After Bridge Attack
The Shibarium bridge exploit occurred in September and caused a major disruption to the network. In response, lead developer Shytoshi Kusama confirmed the formation of a special “war room” team. The group was created to oversee the recovery of the stolen assets.
Since the attack, the Shiba Inu team has added new security measures to prevent future breaches. The network was shut down for 10 days to improve security and was restored in early October. Affected users are still waiting for updates on the recovery of their lost funds.
Incidents like the Shibarium bridge exploit show a growing trend in the crypto industry. Blockchain bridges have become major targets because they hold large amounts of digital assets and sometimes have weak security.
In recent years, attacks on projects like Ronin, Harmony, and Multichain have caused hundreds of millions of dollars in losses across the industry.
T Rowe Price Moves to Launch First Shiba Inu ETF
In a related development, investment firm T. Rowe Price has filed for a Shiba Inu Exchange-Traded Fund (ETF). If approved, it would become the first financial product tied to the meme coin. This could help restore investor confidence in the Shiba Inu ecosystem after the recent security breach.
While the hacker’s next move remains uncertain, the Shiba Inu team has made it clear that this is their last offer. They are prepared to recover what they can and continue strengthening the project’s security and reputation.
The post Shiba Inu Team Issues Final 25 ETH Offer to Bridge Hacker appeared first on BitcoinLinux.com.
