The Plasma Bridge, which makes it possible to move BONE tokens between Shibarium and Ethereum, is now back online.
The new version of the bridge offers a higher level of security and greater loss prevention, according to the announcement. It has already undergone multi-layer testing.
Main improvements
The bridge has added the ability to block addresses that are believed to be suspicious. In such a way, bad actors will be banned from exploiting the bridge.
From now on, the addresses flagged as potentially harmful will not be able to interact with the bridge.
On top of that, there is now a seven-day withdrawal delay, meaning that all BONE withdrawals will have a buffer before they are finalized. It is meant to ensure that security teams will have enough time to be able to tackle any suspicious activity.
But, of course, the user experience is a notable tradeoff since one will have to wait for an entire week for their transaction to finalize.
Bounty update
As reported by U.Today, Shibarium recently experienced a significant hack that resulted in the loss of roughly $4 million worth of various cryptocurrencies.
The attacker borrowed BONE tokens to gain majority control over the validator keys, which then made it possible for them to approve fraudulent transactions.
On top of that, the attackers stole KNINE tokens from the K9 Finance DAO project to the tune of $700,000.
A final bounty will be offered to recover the KNINE tokens from the addresses that are controlled by the attackers. The hacker was originally offered a $229,000 reward and a legal waiver.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team