Shibarium Bridge Breach and Its Impact on Wrapped BONE

Overview of the Incident

On 13‑September‑2025, the Shibarium Layer‑2 network suffered a coordinated flash‑loan exploit that targeted its bridge contract. The attack, executed within minutes, drained approximately $2.4 million in Ethereum (ETH) and Shiba Inu (SHIB) tokens, and involved the purchase of 4.6 million BONE tokens. The attacker used the acquired BONE to gain majority validator power, enabling the siphoning of assets from the bridge.

Immediate Response

  • Token Freeze: Within 11 minutes of the attack, the Shiba Inu team froze 4.6 million BONE tokens to prevent further movement. This action was announced by multiple outlets (e.g., coinpaper.com, coindoo.com).
  • Staking Halt: Developers paused staking activities on the bridge to block the attacker’s ability to use the stolen assets.
  • Bounty Offer: The Shiba Inu team offered a bounty to the attacker in exchange for the return of the drained funds, a measure reported by theblock.co and cryptodnes.bg.

Market Reaction

  • BONE Price Surge: Following the freeze, the price of BONE increased by ~40 %, rising from its 52‑week low of $0.1525 to $0.2062 on 12 September 2025. This spike reflects both the scarcity created by the freeze and market speculation about the potential recovery of the stolen tokens.
  • Market Cap: At the time of reporting, BONE’s market cap stood at $765,112.56.

Security Measures and Ecosystem Updates

  • Bridge Hardening: Shiba Inu developers announced the implementation of enhanced security protocols for the bridge, including contract delegation checks and rapid response mechanisms.
  • Multi‑Chain Upgrade: ShibaSwap, the decentralized exchange within the ecosystem, rolled out a multi‑chain update featuring a native cross‑chain swap, aimed at improving liquidity and reducing single‑point failures.
  • Transparency Commitments: A senior developer publicly detailed the steps taken to mitigate the breach, emphasizing transparency and community trust.

Conclusion

The Shibarium flash‑loan exploit demonstrated vulnerabilities in the bridge contract that allowed an attacker to acquire a significant amount of BONE tokens and divert assets. Prompt actions—freezing tokens, halting staking, and offering a bounty—alongside forthcoming security upgrades, have been pivotal in containing the damage. While the incident temporarily boosted BONE’s price through scarcity, it also highlighted the necessity for robust security frameworks in Layer‑2 ecosystems.