50 ETH or Nothing, Shibarium Hacker Rejects Bounty Offer - Coinspeaker

Key Notes

• Shibarium hacker is asking for “50 ETH or nothing” as a bounty offer.
• Shibarium Network noted that this shows that the hacker is out to harm the protocol.
• In September, the hacker began moving the siphoned funds.

The hacker behind the exploit on Shibarium, the Layer-2 scaling solution of Shiba Inu

SHIB $0.000009

24h volatility: 0.6%

Market cap: $5.15 B

Vol. 24h: $164.56 M

, has demanded a bounty reward of 50 Ethereum

ETH $3 026

24h volatility: 2.3%

Market cap: $365.23 B

Vol. 24h: $37.20 B

.

Based on ETH’s current market price, the hacker’s request is worth over $150,000. In an update on X, Shibarium Network noted that the earlier bounty offer of 25 ETH “is now decaying every day until the end of the claim period arrives.”

Shibarium Hacker Negotiates Bounty Offer

According to Shibarium Network, the hacker behind the platform’s exploit has refused to take anything less than 50 ETH as a bounty.

The protocol believes that the bad actor is out to cause harm to the ecosystem and its associated projects. Unfortunately, many projects like Roaring Kitty, Bad Idea Ai, and LTD have been affected by the attack.

“Every team that worked hard to build on Shibarium that was impacted by this event deserves a positive outcome here in the end, and we had hoped this would be one we could all share,” Shibarium Network shared in a recent post on X.

The team has made multiple offers to the hacker, including a “final offer” of 25 ETH. MRShimamoto on X believed the exploit perpetrator would accept it, but the latest request from the Shibarium hacker suggests otherwise.

Shibarium Hacker Offloads Loot

The attack on the Shibarium bridge happened back in September, with security firm PerkShield first spotting suspicious activity.

Upon investigation, it was discovered that the attacker leveraged a flash loan to acquire the 4.6 million BONE, but Shiba Inu immediately froze the tokens.

The Shibarium team offered the attacker a Whitehat bounty reward and even promised to leave out legal charges if they returned the funds before a stipulated time.

Instead of returning the funds, the hacker offloaded the siphoned funds, as spotted by Christopher Johnson, President of Lightspeed Crypto Services and advisor to the Bad Idea AI (BAD) project.

Related article: Shibarium Bridge Hacker Offloads Entire BAD Holdings: DetailsSince then, there have been several back-and-forths, and it remains unclear whether Shibarium will meet the hacker’s latest demands.

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