BONE Explodes by 40% in Hours: Did the Shibarium Hack Actually Help?
- What Happened During the Shibarium Hack?
- Why Did BONE’s Price Surge After the Hack?
- The Hidden Risks Behind the Rally
- Shibarium’s Make-or-Break Moment
- FAQ: Your Burning Questions Answered
In a bizarre twist of fate, the shiba inu ecosystem's layer-2 network, Shibarium, suffered a sophisticated hack on September 13, 2025—only for its native token, BONE, to surge by 40% within hours. This article dives into the paradoxical market reaction, the technical and psychological drivers behind the price spike, and the lingering security concerns for Shibarium. We’ll also explore whether this rally is sustainable or just a speculative bubble waiting to burst.
What Happened During the Shibarium Hack?
On September 13, 2025, Shibarium—the Ethereum-compatible layer-2 solution for Shiba Inu—was hit by a meticulously planned attack. A hacker exploited a bridge vulnerability, gaining control of validator keys to steal 4.6 million BONE tokens (worth ~$2.8 million at the time). The attack involved a flash loan and temporary majority control of the network’s validators, as confirmed by Shibarium developer Kaal Dhariya in a public statement. Surprisingly, the team’s swift response (freezing funds and negotiating with the attacker) turned the incident into a net positive for BONE’s price.
Why Did BONE’s Price Surge After the Hack?
Here’s where things get counterintuitive. Instead of crashing, BONE’s pricebefore stabilizing at a 40% gain. Three key factors drove this:
- Artificial Scarcity: The stolen tokens were staked with withdrawal delays, effectively reducing circulating supply.
- Market Psychology: The dev team’s quick containment framed the hack as a "stress test passed," boosting confidence.
- Speculative FOMO: Traders on exchanges like BTCC and Binance piled in, betting on short-term volatility.
Data from CoinMarketCap shows BONE’s trading volume spiked 300% during the event, with buy orders overwhelmingly dominating.
The Hidden Risks Behind the Rally
Don’t pop the champagne yet. The hack exposed critical vulnerabilities:
- Validator Centralization: Gaining majority control suggests Shibarium’s nodes aren’t as decentralized as claimed.
- Bridge Security: Cross-chain bridges remain prime targets—Chainalysis reports $2.1B stolen via bridge hacks in 2025 alone.
- Time Bomb: When the frozen 4.6M BONE re-enter circulation, sell pressure could erase gains overnight.
As one BTCC analyst quipped: "This isn’t a rally—it’s a hostage situation with extra steps."
Shibarium’s Make-or-Break Moment
The team’s response will define Shibarium’s future. Key actions so far:
| Action | Status |
|---|---|
| Validator key rotation | Completed (Sept 14) |
| Negotiations with hacker | Ongoing (75% funds still frozen) |
| Bridge audit | Scheduled for Sept 20 |
Investors should watch SHIB’s price too—the meme coin saw a 12% bump from the media attention, per TradingView charts.
FAQ: Your Burning Questions Answered
How long will BONE’s price stay elevated?
Likely until the frozen tokens are released. Historical data (like Poly Network’s 2021 hack) shows these "forced HODL" scenarios create temporary pumps.
Is Shibarium safe to use now?
The team claims fixes are in place, but independent audits (expected late September) will confirm. For now, limit bridge transactions.
Could this happen again?
All layer-2 networks face these risks. Vitalik Buterin himself warned about bridge vulnerabilities in 2022—yet here we are.
