Shibarium Bridge Falls Victim To $2.4 Million Drain Attack – Details
Shibarium, the Ethereum-based Layer 2 scaling solution built around the Shiba Inu ecosystem, has suffered a major security breach, leading to the loss of about $2.4 million in assets. The drain attack has since prompted intense immediate emergency responses. Related Reading: US Authorities Seize $600K USDT From Iranian Drone Program Operator – Details Hacker Uses […]
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Shiba Inu’s development team has announced a significant advancement in the SHIB ecosystem. With the introduction of the Shibarium Bridge, users will have a new way to interact with the ecosystem. However, as this technology is still in its beta phase, the team behind Shiba Inu (SHIB) is urging the community to exercise caution. A team representative known as Lucie recently announced the Shibarium Bridge’s beta release. This addition to the Shibarium network was first introduced to the public in April and has since progressed from being partially functional to undergoing public....
The top 100 DeFi tokens had a mixed price action over the past week, with many seeing a downturn after some bullish action last week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.This past week, the DeFi ecosystem saw two exploits, one after another, resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of what many deemed a decentralized robbery, which saw almost $190 million drained out of their....
One of Turkey’s most prominent crypto exchanges BtcTurk has suffered a cyber attack leading to unauthorized access to some of its hot wallets. The exchange has reported some level of asset loss, however, they claim enough financial stability to overcome this setback. Related Reading: May Madness: Crypto Industry Suffers $385 Million Loss To Hackers $5.3 […]
Double-spending in the Bitcoin world is becoming a very rare occurrence, but that doesn’t mean it is impossible to pull off this type of attack. BitBet, an online gambling platform, fell victim to such an attack earlier today as a result of several of their transactions not being included in the Bitcoin Node mempool. This entire situation is sparking a lot of debate and conspiracy theories as to why one particular transaction was broadcasted twice on the network, although it is rather a stretch to claim malicious intent at this stage.
Shibarium has only been live for a few days but is already showing early signs of success. The Ethereum layer-2 scaling solution, which hopes to provide lower gas fees and faster transaction times for the Shiba Inu community, has seen some impressive growth numbers in terms of Total Value Locked (TVL). TVL Crosses $1.4 Million Since Shibarium launched its mainnet, the total value deposited in the network has skyrocketed. The TVL recently crossed $1.4 million, indicating strong interest in the new chain. Related Reading: Shiba Inu Community Celebrates New Milestone One Day After Shibarium....