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K9 Finance Threatens to Abandon Shibarium
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K9 Finance has set a deadline of January 6, 2026, for full compensation to victims of the Shibarium bridge exploit. The platform, which lost over $700,000 in various tokens, has faced a communication breakdown with the Shiba Inu team. A DAO vote will determine K9 Finance's future on Shibarium if compensation is not met by the deadline.
K9 Finance has publicly challenged the Shiba Inu team with a firm deadline following unresolved issues from the September 2025 Shibarium bridge exploit. The liquid staking platform, which operates as Shibarium's official partner, announced it will wait until January 6, 2026, for complete victim compensation before considering its future on the network.
The September incident saw hackers drain multiple cryptocurrencies from the Shibarium bridge. K9 Finance lost over $700,000 in KNINE tokens alongside stolen ETH, SHIB, LEASH, ROAR, and TREAT. The platform claims it has followed all protocols requested by Shiba Inu's team regarding the hack response and victim restitution processes.
Communication Breakdown Prompts Public Statement
K9 Finance maintained private dialogue channels with the Shiba Inu team throughout the recovery process. The platform operated under good faith assumptions while working toward a resolution. However, communication has reportedly ceased from the Shib team's end across all private channels.
The decision to publicly address the situation came after exhausting private options. K9 Finance stated this transparency serves its token holders and upholds responsible governance standards. The platform emphasized its duty to provide clarity to community members who suffered losses.
DAO Vote May Determine Platform's Future on Shibarium
The K9 Finance decentralized autonomous organization set January 6, 2026, as the resolution deadline. Users affected by the bridge exploit must receive full and verifiable compensation by this date. The platform emphasized that partial restitution will not satisfy the requirement.
Should the deadline pass without complete victim compensation, the DAO will convene for formal voting. Members will decide whether maintaining operations on Shibarium remains beneficial for the ecosystem's long-term health. The vote could result in K9 Finance severing ties with the network entirely.
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Coins
$ 2.83K
-4.14%
$ 0.00...752
-3.46%
$ 0.0429
-1.06%
$ 0.00...898
-4.52%
$ 0.000394
-3.18%Funds
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In This News
Coins
$ 2.83K
-4.14%$ 0.00...752
-3.46%$ 0.0429
-1.06%$ 0.00...898
-4.52%$ 0.000394
-3.18%Funds
Share:
K9 Finance Threatens to Abandon Shibarium
Share:
K9 Finance has set a deadline of January 6, 2026, for full compensation to victims of the Shibarium bridge exploit. The platform, which lost over $700,000 in various tokens, has faced a communication breakdown with the Shiba Inu team. A DAO vote will determine K9 Finance's future on Shibarium if compensation is not met by the deadline.
K9 Finance has publicly challenged the Shiba Inu team with a firm deadline following unresolved issues from the September 2025 Shibarium bridge exploit. The liquid staking platform, which operates as Shibarium's official partner, announced it will wait until January 6, 2026, for complete victim compensation before considering its future on the network.
The September incident saw hackers drain multiple cryptocurrencies from the Shibarium bridge. K9 Finance lost over $700,000 in KNINE tokens alongside stolen ETH, SHIB, LEASH, ROAR, and TREAT. The platform claims it has followed all protocols requested by Shiba Inu's team regarding the hack response and victim restitution processes.
Communication Breakdown Prompts Public Statement
K9 Finance maintained private dialogue channels with the Shiba Inu team throughout the recovery process. The platform operated under good faith assumptions while working toward a resolution. However, communication has reportedly ceased from the Shib team's end across all private channels.
The decision to publicly address the situation came after exhausting private options. K9 Finance stated this transparency serves its token holders and upholds responsible governance standards. The platform emphasized its duty to provide clarity to community members who suffered losses.
DAO Vote May Determine Platform's Future on Shibarium
The K9 Finance decentralized autonomous organization set January 6, 2026, as the resolution deadline. Users affected by the bridge exploit must receive full and verifiable compensation by this date. The platform emphasized that partial restitution will not satisfy the requirement.
Should the deadline pass without complete victim compensation, the DAO will convene for formal voting. Members will decide whether maintaining operations on Shibarium remains beneficial for the ecosystem's long-term health. The vote could result in K9 Finance severing ties with the network entirely.
In This News
Coins
$ 2.83K
-4.14%$ 0.00...752
-3.46%$ 0.0429
-1.06%$ 0.00...898
-4.52%$ 0.000394
-3.18%Funds
Share:
In This News
Coins
$ 2.83K
-4.14%$ 0.00...752
-3.46%$ 0.0429
-1.06%$ 0.00...898
-4.52%$ 0.000394
-3.18%Funds
Share: