Shibarium Thwarts $10M DeFi Heist in 90 Minutes — Setting a New Security Benchmark

Shibarium, the layer-2 blockchain network developed by the Shiba Inu ecosystem, has successfully thwarted a sophisticated flash loan attack that targeted over $10 million in BONE tokens. The incident, detected and neutralized within hours, highlights the increasing complexity of DeFi-based threats and the robust security protocols now in place across major blockchain platforms.

The attack occurred late last week when a group of malicious actors exploited a vulnerability in a cross-chain bridge connected to the BONE token, a governance token used within the Shiba Inu ecosystem. Attackers attempted to execute a multi-step flash loan-based exploit, drawing large liquidity from decentralized exchanges to manipulate token prices and trigger liquidation loops. However, Shibarium’s automated monitoring systems flagged the unusual transaction patterns, prompting immediate action from the platform's security team.

According to on-chain analytics, the attackers had initially executed a flash loan worth over $2 million on a decentralized lending platform before deploying it across several DeFi protocols to amplify their position. The ultimate goal was to manipulate the price of BONE tokens, creating an arbitrage opportunity. However, the Shibarium team intervened before any funds were permanently drained, freezing the associated wallets and coordinating with other DeFi platforms to prevent further exploitation.

While no funds were lost, the incident has raised concerns among investors and developers about the vulnerabilities that remain in DeFi infrastructure. Shibarium has since released a statement confirming the attack and emphasizing its commitment to continuous security improvements. “Our systems detected and mitigated this attack within 90 minutes of its initiation,” the statement read. “We are currently conducting a post-incident review and will be releasing detailed findings and updated security measures in the coming weeks.”

Industry analysts have weighed in on the significance of the event. One senior blockchain security consultant noted that the attack was one of the most technically complex to date, involving multiple cross-chain interactions and advanced token manipulation strategies. “This is a wake-up call for smaller DeFi projects,” the analyst said. “The sophistication of these attacks is increasing rapidly, and without adequate monitoring and response mechanisms, even well-established protocols are at risk.”

In response to the incident, Shibarium has announced plans to enhance its anomaly detection systems and collaborate with third-party security firms to conduct regular audits of its smart contracts and bridges. The platform is also considering implementing a multi-signature wallet system for high-value transactions to add an additional layer of protection.

The event adds to a growing list of high-profile flash loan attacks that have affected major DeFi platforms in recent months. However, Shibarium’s swift response has been praised by both users and security experts as a benchmark for how such threats should be handled. As the DeFi sector continues to expand, the need for robust, real-time threat detection systems is becoming increasingly critical.