A recent update published by Shiba Inu developer Kaal Dhairya says that after the robust hacks made earlier this month, wavy operations continue to be restricted. This means that users cannot return assets to Ethereum.
The team has yet to confirm that they will ensure that the bridge will be reopened, as safety and verification will be prioritized.
Dhairya has revealed that the update will be made public via official channels. So far, the team has deliberately avoided revealing certain details so that they don’t fall into the hands of attackers.
$2.3 million hack
September 12th, blockchain security company Peckshield Detected After the investigation there was a possibility of a step-by-step compromise later confirmed by the Shiba INU team.
Attackers were able to gain influence over the validators and artificially increase them in order to submit fraudulent exit requests.
The majority of validators (10 out of 12) were compromised, and the key was used to approve malicious transactions.
The hackers tricked the bridge into pulling out assets worth around $2.3 million, including ETH, SHIB and ROAR.
Uncertainty about asset recovery
Dhairya also said the team has yet to finalize plans for an asset recovery. So far, the team has focused primarily on “containment” to prevent further losses. Developers are also working on “hardening” the system to ensure that such attacks never happen again.
Once all security issues have been resolved, the reimbursement plan will be shared with the user.
If your team is unable to recover stolen funds via investigations or bounty, consider backup options, such as funding from the Treasury Department, burning tokens, or using insurance funds.
Potential solutions should undergo community review before they are implemented.
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