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HomeCrypto NewsMarketShiba Inu Reopens Shibarium Bridge, But Hack Victims Still Face Repayment Delay

Shiba Inu Reopens Shibarium Bridge, But Hack Victims Still Face Repayment Delay

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Following comprehensive security enhancements, the Shiba Inu ecosystem team has reopened the Shibarium Plasma Bridge for BONE. 

The team made this known in its latest update, emphasizing that users can now safely transfer BONE tokens between Shibarium and Ethereum networks. 

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This development comes more than a month after the bridge’s suspension, which followed a major security breach where attackers stole over $4 million worth of digital assets, including SHIB and LEASH. 

In the latest update, top developer Kaal Dhairya announced on behalf of the team that the Plasma Bridge is back online for BONE. Plans are underway to reopen the Plasma Bridge for additional tokens, including SHIB and TREAT, in phased rollouts after further testing.

New Security Upgrades 

Notably, the reopening comes with two major security upgrades: a blocklisting functionality and a seven-day withdrawal delay. The blocklisting function is a proactive system that allows the team to identify and block suspicious addresses at the bridge layer. 

The Shiba Inu ecosystem team has also introduced a seven-day finalization delay for all BONE withdrawals on the Plasma Bridge. This mechanism is intended to give validators and the security team sufficient time to monitor and respond to suspicious activity. 

As a result, the process of bridging BONE between Ethereum and Shibarium now involves depositing the token on the source chain, waiting through a seven-day finalization period, and then withdrawing the funds from the destination chain. 

Before relaunching, the Plasma Bridge underwent a multi-layered testing and validation process, which included unit and simulation tests, as well as deploying the updated version on Puppynet, the beta version of Shibarium. 

Leading cybersecurity solution provider Hexens also conducted an independent review of all the changes before they were implemented.

K9 DAO to Launch Bigger Bounty Offer to Recover KNINE 

Furthermore, Dhairya also provided an update about K9 DAO’s bounty of 5 ETH, which was launched last month to recover the stolen KNINE tokens. 

According to the update, the K9 bounty offer of 5 ETH has expired as the attackers refused to accept it. While the bad actors sold most of the stolen tokens, including BAD, they cannot use the KNINE tokens, which remain blacklisted. 

Following the expiration of the first bounty, the team intends to issue a larger and final offer to encourage the complete return of the KNINE tokens. 

Hack Victims Will Not Receive Funds Until Security Checks Are Complete 

Meanwhile, the update noted that the team is finalizing a repayment program for users affected by the prior bridge exploits, ensuring transparency and fairness. 

It promised to share details on repayment through official channels once all security and compliance checks were complete. Until the security team completes these checks, affected users will need to wait for their reimbursement.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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