Exciting news for the crypto community as the Plasma Bridge, facilitating the transfer of BONE tokens between Shibarium and Ethereum, is now live again.
The latest version of the bridge boasts enhanced security measures and improved loss prevention mechanisms, as per the official announcement. Extensive testing has already been conducted to ensure its reliability.
Main enhancements
One of the key updates to the bridge is the ability to block suspicious addresses, effectively thwarting malicious actors from exploiting the system.
Moving forward, any flagged addresses deemed risky will be restricted from using the bridge, bolstering overall security.
Moreover, a new feature has been implemented where there is now a seven-day withdrawal delay for all BONE withdrawals. This precautionary measure allows security teams ample time to address any potential security threats, albeit at the cost of a longer transaction processing time.
Bounty program update
In recent events, Shibarium fell victim to a significant hack resulting in the loss of approximately $4 million in various cryptocurrencies.
The attacker leveraged BONE tokens to manipulate validator keys, facilitating fraudulent transactions and causing substantial losses.
Additionally, the malicious actors managed to steal $700,000 worth of KNINE tokens from the K9 Finance DAO project.
A generous bounty is now in place to recover the stolen KNINE tokens from the attackers’ controlled addresses. Originally, a $229,000 reward and legal immunity were offered to the hacker.