Shytoshi Kusama, the lead ambassador of the Shiba Inu (CRYPTO: SHIB) ecosystem, confirmed Monday that they’re actively working with developers to mitigate the impact of the Shibarium hack, calling rumors of their absence as “preposterous.”
Shytoshi Hasn’t Deserted SHIB Ecosystem Amid Hack
The pseudonymous personality posted on X after a gap of over a month, clarifying that despite shifting their focus toward AI initiatives, they haven’t lost sight of the breach that resulted in thefts of over $2 million.
“To suggest that I am anywhere except beside Kaal Dhairya[lead developer], the devs and other appropriate parties figuring out next steps is utterly preposterous,” Kusama said.
Issue Is ‘Complex And Deep’
Kusama stated that the current issue is “complex and deep” and that they prefer not to say until they fully understand it.
“Yes, we are on it, in the war room, so to speak. More official statements will follow for Shib channels. Thank you for your patience and understanding,” they added.
The Fallout Of $2.30 Million Hack
Kusama’s statement comes as the Shiba Inu ecosystem grapples with the aftermath of a major security breach, where over $1 million in Ethereum (CRYPTO: ETH) and SHIB were drained in a flash loan-like attack. The attacker exploited Shiba Inu’s Layer-2 network, Shibarium, gaining temporary validator voting power to push malicious software.
In response, Shiba Inu paused staking/unstaking functions to protect community assets and partnered with blockchain security firms, including PeckShield, for a full forensic investigation. The team said it’s open to negotiating with the hacker and is willing to give a “small bounty” if funds are returned.
Kusama, who has steered the Shiba Inu ecosystem since the abrupt exit of Ryoshi in 2022, said previously that they, too, would "step away from the limelight" at some point.
Last month, they said that elections would be held to appoint a new lead visionary of Shiba Inu, aligning with their goal of full decentralization.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001300, down 5.44% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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