The flash crash on Oct. 11 shook crypto markets the most, soon after U.S. President Donald Trump's historic 100% tariff on China announcement, wiping billions from major tokens. Two days later, on Oct 13, two memecoins have made quite the rally — Dogecoin (DOGE) and Shiba Inu (SHIB). Dogecoin Dogecoin, which plunged nearly 50% to $0.11 during the selloff, has quickly rebounded. By October 13, DOGE was trading around $0.21, up more than 12% in the past 24 hours. Analysts view the move as a "healthy corre ...

From meme to movement to ecosystem.While others talk, SHIB builds.#ShibArmy — what’s your favourite part of the SHIB ecosystem? 👇Lsb108 (@isb108):🐶 Shiba Inu ($SHIB): Meme to Modular Empire1/ 🔍 @Shibtoken: Launched Aug 2020 by Ryoshi as “Dogecoin killer,” now a Web3 ecosystem w/ blockchain, DEX, NFTs, metaverse, AI, DAO. SHIBArmy: large, loyal, viral community.2/ ⚙️ Tech: Shibarium (ETH L2, low fees, fast), ShibaSwap https://t.co/9R4nNc1DNd ...

Shiba Inu's Shibarium preps bridge restart and plans user refunds after $4 million exploit https://t.co/OzeoPm09bo ...

Core Insights - The recent hack incident on Shiba Inu's Layer 2 network, Shibarium, resulted in a loss of $4 million in cryptocurrencies, which has been labeled as a "serious" incident by the lead developer Kaal Dhairya [2][4] - The team has managed to contain the immediate damage and is collaborating with independent specialists and authorities to address the situation [2][3] - The hack involved the loss of 17 different coins, including $1 million in Ethereum and $1.3 million in SHIB, with the attacker temporarily gaining validator voting power [5] Security Measures - Bridge operations on Shibarium are currently restricted, and additional security safeguards have been implemented for deposits, withdrawals, claims, and rewards [3][4] - The Bone ShibaSwap tokens used for validator voting power have been recovered and secured [3] Decentralization Concerns - Dhairya acknowledged that the incident exposed shortcomings in decentralization, which had been deprioritized in favor of other roadmap items [4] - The timeline for resuming bridge operations has not been provided, with safety being the current priority [4] Internal Dynamics - Dhairya expressed frustration with the leadership dynamics within Shiba Inu, indicating a rift and dissatisfaction with those who have benefited from the situation [5]

Group 1 - The Shiba Inu team reported that over $4 million in cryptocurrencies was stolen in a recent hack of its Layer-2 network, Shibarium [1] - A total of 17 different coins were drained, including $1 million in Ethereum, $1.3 million in Shiba Inu, $717,000 in K9 Finance, $680,000 in Doge Killer, and $260,000 in ROAR [2] - Smaller amounts of USDC, Tether, and Shiba Inu Treat were also stolen, with the attacker converting USDC and USDT to Ethereum, while attempts to sell KNINE tokens were unsuccessful [3] Group 2 - The Shiba Inu team has suspended bridge operations and is conducting a forensic analysis due to significant user fund losses on Shibarium, while also planning to enhance monitoring and security practices [5] - The ecosystem is addressing the impact of a flash loan-like attack that allowed the attacker to gain validator voting power to deploy malicious software [5] - Shytoshi Kusama, the lead ambassador, confirmed ongoing collaboration with developers and dismissed rumors of team abandonment as unfounded [6] Group 3 - The Shiba Inu team has offered a bounty of 50 ETH, valued at approximately $229,400, to the attacker for the return of the stolen funds [4]

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Shytoshi Kusama, the lead ambassador of the Shiba Inu (CRYPTO: SHIB) ecosystem, confirmed Monday that they’re actively working with developers to mitigate the impact of the Shibarium hack, calling rumors of their absence as “preposterous.” Shytoshi Hasn’t Deserted SHIB Ecosystem Amid Hack The pseudonymous personality posted on X after a gap of over a month, clarifying that despite shifting their focus towa ...

``Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. `` `` The Shiba Inu (CRYPTO: SHIB) team posted a detailed account of the hacking incident that impacted its ecosystem on Saturday, including details about the assets affected and subsequent actions taken. `` Flash Loan Attack On Shibarium `` ```` According to the official X account tied to the SHIB token, the attacker acquired 4.6 million Bone ShibaSwap (CRYPTO: BONE), the governance token of Shiba Inu’s ...

RT Shibarium Network (@ShibariumNet)The future is calling you. Will you answer? https://t.co/OeHIPPepyj ...

RT Vic ✨Shibarium✨ (@InformedShib)Use Shibarium ❤️Powered by $Bone$Shib 🎈 https://t.co/bcf37iIm5m ...

Project Updates - Shibarium 网络正在进行中，预示着项目可能在九月有进展，具体进展方向需进一步信息 [1]