SHIB Army Alert: Shiba Inu Team Explains Security Breach – Are Funds Safe?

TL;DR

• Reports emerged on Friday that Shiba Inu’s Shibarium could be hacked following several suspicious transactions.
• The team provided more updates today, indicating that investors’ funds are safe, and also outlined what has been done already and what the next steps are.

SHIB Security Incident

After PeckShield flagged the suspicious activity on Friday, the official Shiba Inu channel on X said the team had reached out to external security partners to investigate thoroughly. One of the first updates posted on Saturday noted that a sophisticated attack, which was probably planned for months, was carried out using a flash loan to purchase 4.6 million BONE tokens.