Meme coins are feeling the heat again. Shibarium — Shiba Inu’s Layer-2 — just suffered a $2.4M exploit after attackers hijacked 10 of 12 validator keys and drained assets from its bridge.
What Went Down
$2.4M stolen: ~224 ETH + 92.6B SHIB + $700K in KNINE tokens.
Hackers also borrowed 4.6M BONE via flash loans.
Developers froze staking/unstaking to stop further damage.
K9 Finance blacklisted the attacker’s wallet.
Market Impact
BONE dropped ~10% immediately.
SHIB slipped as traders pulled liquidity.
DOGE and other meme coins also slid, with bearish pressure building across the sector.
Why It Matters
Bridges & validator keys remain the weakest link in crypto security.
Meme coins depend on community trust — hacks like this shake confidence.
Traders now eye key support zones: if SHIB breaks lower, expect more downside volatility.
👉 Question for you:
Do you see this as a buy-the-dip opportunity or a warning sign to exit meme coins?
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