• About Us
  • Careers
  • Contact
No Result
View All Result
Monday, October 6, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

K9 Finance Offers 5 ETH Bounty to Hacker After Shibarium Bridge Exploit

15 September 2025
in Crime
Reading Time: 3 mins read
107 3
Home News Crime

Contents

Toggle
  • Quick Breakdown 
  • Bounty offer to attacker
  • Details of the exploit
  • Security measures and market impact

Quick Breakdown 

  • Shiba Inu’s K9 Finance offered a 5 ETH bounty to the attacker if stolen funds are returned.
  • The exploit drained $2.4M after attackers gained validator control using BONE tokens.
  • SHIB, KNINE, and BONE tokens saw significant price drops following the breach.

Bounty offer to attacker

Shiba Inu’s decentralized finance platform, K9 Finance, operating on the Shibarium layer-2 network, has extended a 5 Ether ($23,000) bounty to the hacker behind a recent bridge exploit. The protocol made the offer via an onchain message on Monday, stating that the bounty will remain open for 30 days, though it will begin to reduce after seven days.

Source: Etherscan

“Settlement is atomic when we call recoverKnine(). If you call accept() we cannot cancel the deal. Code is law,”

K9 Finance noted in the message, urging the attacker to act quickly.

Details of the exploit

The incident occurred on Saturday, draining $2.4 million in digital assets from the platform. According to Shiba Inu developer Kaal Dhairya, the breach stemmed from compromised validator signing keys. The attacker reportedly used a flash loan to acquire 4.6 million Bone ShibaSwap (BONE) tokens, securing majority validator power and signing a malicious transaction to siphon funds from the bridge.

In response, Shibarium developers have paused staking and unstaking functions and shifted stake manager funds into a multisig-controlled hardware wallet for added security.

Security measures and market impact

Dhairya emphasized that safeguarding user funds and restoring the network’s integrity remain the top priorities. The team has enlisted security firms, including Hexens, Seal 911, and PeckShield, to assist in the investigation. Authorities have also been contacted, though Dhairya stressed they remain open to negotiating with the attacker.

The exploit triggered sharp price declines across the Shiba Inu ecosystem. SHIB fell 7% from $0.0000145 to $0.0000131, K9 Finance (KNINE) dropped 10% from $0.00000287 to $0.00000257, while BONE plunged 38% to $0.19 according to CoinGecko data.

This breach follows another incident last week in which THORChain co-founder John-Paul Thorbjornsen (JP Thor) had his personal wallet drained after a Telegram meeting call scam, according to onchain investigator ZachXBT.

Notably, ShibaSwap successfully migrated to the Shibarium blockchain in May, a move expected to enhance its users’ trading experience.

 

If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

Take control of your crypto  portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: K9 FinanceShibarium
Share64Tweet40Share11
Previous Post

Galaxy Digital Scoops $306M in Solana Amid Crypto Treasury Push

Next Post

Thai Banks Freeze Millions of Accounts in Scam Crackdown, Innocent Customers Caught in Dragnet

Favour Okosodo

Favour Okosodo

Experienced web content writer with a strong command of SEO, specializing in creating concise, engaging content that drives traffic and enhances conversions across diverse industries.

Related Posts

source: siliconcanals.com
Bitcoin

UK Debates Whether to Keep $6.4B Bitcoin Windfall From Historic Fraud Case

2 October 2025
source: quark.house
Crime

BNB Chain’s Official X Account Hacked, Airdrop Scam Links Shared

1 October 2025
source: cryptonews.com.au
Crime

Hyperdrive Restores Operations, Compensates Users After $700K Exploit on Hyperliquid

29 September 2025
source: koreatimes.co.kr
Crime

Actor Hwang Jung-eum Receives Suspended Sentence Over $3M Crypto Investment

26 September 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

Your Weekend Crypto Roundup | October 2025 (Week 1)

2 days ago

What $1 Billion in Liquidations Means for Market Stability

4 days ago

Why Crypto’s Cross-Chain Future Depends on Regulatory Readiness

5 days ago

MicroStrategy’s Debt-Fueled Bitcoin Buys: Smart Treasury Move or Dangerous Precedent?

5 days ago

XRP Reserves Spiked by 1.2B: What Does This Mean for Market Adoption?

5 days ago

Is Crypto Adoption Strongest Where Fiat Is Weakest?

5 days ago
Read More

Events

Blockchain Life 2025
Blockchain Life 2025
28 Oct 25

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Psy Protocol Testnet Combines Internet Scale and Speed with Bitcoin-Level Security

bychainwire
2 October 2025
0

Eightco Holdings Inc. ($ORBS) Expands Investor Access with Options Trading

bychainwire
2 October 2025
0

Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life

bychainwire
2 October 2025
0

Solo Leveling Levels Up: Korean Billion-Dollar Megafranchise Goes Onchain with Story

bychainwire
1 October 2025
0

SimpleFX Relaunches First Deposit Bonus

bychainwire
1 October 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00