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The post SHIB Price Holds Strong as Shiba Inu Team Confirms Shibarium Protocol Was Not Hacked ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement &nbsp &nbsp The Shiba Inu ecosystem faced heightened scrutiny this week after an attempted exploit on its Layer-2 blockchain bridge, Shibarium. Initial reports earlier on Saturday framed the incident as a “hack,” prompting alarm across the community. However, developers have now clarified that the Shibarium protocol itself was not compromised. According to Shibarium developer Kaal Dhariya, the attack involved a flash loan that allowed the perpetrator to acquire 4.6 million BONE tokens. The attacker then used stolen validator signing keys to gain temporary majority control, enabling them to push a malicious state on the bridge. While the attempt was sophisticated, developers emphasized that core infrastructure remained intact. Dhariya noted that the staked BONE tokens remain locked due to unstaking delays, giving the team a critical opportunity to secure them.  “This gives us the chance to freeze those funds,” he explained in a statement shared on X. Advertisement &nbsp Notably, the Shibarium Bridge is a vital component of the Shiba Inu ecosystem. It allows users to transfer assets, such as SHIB, BONE, LEASH, and wETH, between Ethereum and Shibarium. By offloading activity from Ethereum’s mainnet, Shibarium reduces transaction fees, increases speed, and enhances usability for decentralized finance (DeFi) applications, gaming, and metaverse projects. In response to the exploit attempt, the Shibarium team temporarily paused staking and unstaking functions. They also transferred validator funds into a secure hardware wallet managed by a trusted 6-of-9 multisignature setup. Investigations are ongoing to determine whether the validator keys were compromised through a server breach or a developer’s machine. Meanwhile, leading blockchain security firms, including Hexens and Peck Shield, are actively collaborating with the team to prevent further risks and restore confidence. Despite the attempted exploit, Shiba Inu’s native token SHIB has held firm. As of Saturday, SHIB traded around $0.00001412, marking a…