A hacker attack costing millions of dollars not only exposed the security vulnerabilities of the Layer-2 network, but unexpectedly sparked a community-driven on-chain rescue experiment, ultimately giving birth to the first 'debt tokenization' protocol in the crypto world.
September 12, 2025, marked the darkest moment in the history of Shibarium—the Layer-2 network that holds the assets of millions of users within the Shiba Inu ecosystem.
When assets worth approximately $3 million in ETH, SHIB, BONE, and others vanished from the bridge contract under the dual assault of a flash loan attack and validator key leakage, the entire crypto community once again witnessed the fragility of cross-chain bridges—a 'lawless zone' akin to the Somali pirate haven.