BONE Price Surges 40% After Shibarium Flash Loan Exploit

Shiba Inu’s layer-2 network, Shibarium, was hit by a coordinated exploit that saw an attacker use a flash loan to gain control over a validator, drain assets from its bridge and trigger a temporary shutdown of staking operations.

The attacker, according to Shibarium developer Kaal Dhariya, bought 4.6 million BONE, the governance token of Shiba Inu’s layer-2 network, using a flash loan. The attacker then gained access to validator signing keys to achieve the majority validator power.

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