Shibarium plans to restart the Ethereum cross-chain bridge and establish a compensation plan

ChainCatcher news, according to The Block, Shibarium developers stated that they are preparing to restart the Ethereum cross-chain bridge for the platform and are formulating a compensation plan to reimburse users who suffered losses due to an emergency shutdown triggered by a vulnerability earlier this month.

The team's latest post-mortem analysis indicated that all validator keys have been rotated, over 100 ecosystem contracts have been migrated to secure wallets, and 4.6 million BONE tokens have been recovered from the attackers' contracts within days of the attack. According to a community update on September 17, the attackers stole approximately $4.1 million worth of ETH, SHIB, and 15 other tokens from the bridge. Shortly after the attack was discovered, Shibarium developer Kaal Dhairya stated on X that they had contacted the relevant authorities, but the team was willing to engage in "good faith" negotiations with the attackers, offering a reward of 50 ETH, which was worth about $225,000 at the time, if the stolen funds were returned.