Shiba Inu CTO Labels $4M Shibarium Hack 'Serious' Amid Security Enhancements

2025-09-22 13:11

Shiba Inu's chief developer, Kaal Dhairya, has labeled the recent $4 million hack of the Shibarium network as 'serious' but assured that the situation is under control. The breach, which affected 17 cryptocurrencies including Ethereum and SHIB, has prompted the restriction of bridge operations and the implementation of additional security measures to address decentralization flaws. In a related development, Ethereum co-founder Vitalik Buterin has shifted focus towards promoting low-risk decentralized finance (DeFi) projects over memecoins. Following the hack, SHIB's price fell by 3.95%, trading at $0.00001246.

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