L2 Shibarium network developers have confirmed they are preparing to restart the bridge. Ethereum and pay compensation to the victims of the recent security breach.
The exploit, which occurred on September 12, was caused by maliciously sending fake data to Shibarium contracts tied to Ethereum, which resulted in the system shutting down automatically.
At the same time, the attacker blocked millions of dollars worth of BONE tokens in an attempt to seize control of the network. The hack resulted in the theft of approximately $4,1 million in various assets, including ETH and SHIB.
Shortly after the hack was reported, Shibarium developer Kaal Dairiya stated that while they had contacted authorities, the team was still willing to negotiate with the attacker and offered a 50 ETH bonus, then worth about $225,000, if the stolen funds were returned.
However, the deal never took place, and the perpetrator has since transferred the stolen assets to another address.
All validator keys have now been replaced, and over 100 ecosystem contracts have been moved to secure wallets. Furthermore, a few days after the attack, 4,6 million BONE tokens, worth over $2 million, were successfully recovered from the attacker’s contract.
Since the attack, the price of SHIB has fallen by 13%, while the price of BONE has fallen by more than 43%.