The Plasma Bridge, allowing for the transfer of BONE tokens between Shibarium and Ethereum, is now operational.
The latest version of the bridge boasts enhanced security measures and improved loss prevention mechanisms, as per the official announcement. It has successfully completed rigorous multi-layer testing.
Main Enhancements
One of the key upgrades is the capability to block suspicious addresses, effectively preventing malicious actors from exploiting the bridge.
Moving forward, flagged addresses deemed risky will be restricted from interacting with the bridge.
Additionally, there is now a seven-day withdrawal delay in place to provide a buffer period for all BONE withdrawals before they are finalized. This measure aims to empower security teams to address any potential threats effectively.
However, it is important to note that this enhanced security feature may result in a longer wait time for users as transactions will now take a full week to complete.
Bounty Program Update
In recent events reported by U.Today, Shibarium fell victim to a significant hack resulting in the loss of approximately $4 million worth of various cryptocurrencies.
The attacker leveraged BONE tokens to gain control over the validator keys, enabling them to approve fraudulent transactions.
Furthermore, the attackers managed to steal KNINE tokens from the K9 Finance DAO project amounting to $700,000.
A generous bounty is now being offered to recover the KNINE tokens from the attacker-controlled addresses. Originally, the hacker was offered a $229,000 reward and a legal waiver.
