Gushiken Yona
The Shiba Inu development team has raised the Shibarium bridge bounty to 25 ETH, issuing a final on-chain offer to the hacker who stole more than $700,000 in K9 Finance DAO (KNINE) tokens, after rejecting earlier 5 and 20 ETH proposals and maintaining a 50 ETH demand.
- The Shiba Inu team has officially increased its Shibarium bridge bounty offer to 25 ETH.
- The new offer was a direct counter after the attacker rejected a 20 ETH bounty and previously demanded 50 ETH.
- Shiba Inu’s on-chain message called the 25 ETH proposal a "final offer," escalating the public negotiation.
Public On-Chain Negotiation Over Shibarium Bounty
The dialogue between the Shiba Inu team and the attacker is occurring transparently on the Ethereum blockchain, with each offer and rejection recorded permanently. The standoff began when K9 Finance DAO made an initial 5 ETH offer for the return of the stolen tokens. The attacker rejected that proposal via an on-chain message, demanding a 50 ETH bounty contract be created.
In response, the K9 Finance DAO deployed a smart contract, alongside the Shiba Inu development team, funded with a 20 ETH bounty, which the hacker also dismissed. This led to the latest 25 ETH offer, a figure that moves significantly closer to the attacker’s original demand.
The on-chain message accompanying the new offer was direct. “25 ETH, final offer,” the team wrote. “This is Shib offering more funds. Not K9 DAO.” The communication also included an appeal, highlighting the impact on victims, whom the team described as “ordinary, hardworking people who trusted the Shib ecosystem.”
Mechanics and Next Steps in the Shibarium Bridge Bounty Standoff
The increased Shibarium bridge bounty places the decision squarely back on the hacker. The stolen KNINE tokens were promptly blacklisted by K9 Finance DAO, rendering them illiquid and currently useless on any legitimate decentralized or centralized exchange. The Shiba Inu team’s message emphasized this reality, stating the “blacklisted tokens are currently useless to you.”
The recovery mechanism was designed to be a trustless exchange. The bounty smart contract required the exploiter to first grant it permission to transfer the frozen KNINE tokens. Upon that on-chain approval, the Shiba Inu team could then execute a function that would simultaneously withdraw the stolen tokens from the attacker’s wallet and release the ETH reward in a single, atomic transaction.
Read More
- Worldcoin Defiant: Services Paused, Legal Challenge Against Spanish Ban Launched
- Binance.US Grapples with Revenue Plunge, Massive Layoffs Amid SEC Battle
- Crypto Security Alarm: February Sees a 98% Explosion in Hacking Incidents, $300M Looted
- Hamas Attack Victims Sue Binance, CZ Over $1B Alleged Crypto Aid
- Klarna Launches First Bank-Issued USD Stablecoin on Stripe’s Tempo
- Bitcoin Millionaire Family Terrorized in $2M Home Wrench Attack
Follow on X
Follow on Instagram
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project...
