Shiba Inu don climb 8% after dem trace di Shibarium hack funds go KuCoin; evidence don send give FBI
Shiba Inu (SHIB) climb like 8% after Shibarium core dev and community investigator Shima drop detailed tracing of mid-September bridge exploit. Di hack — around $2.3–$2.4 million in ETH, SHIB and KNINE — involve compromised Shibarium validator key wey allow withdrawals. Shima trace about 260 ETH through 111 wallets go Tornado Cash then to KuCoin (centralized exchange), identify 232.49 ETH wey land through 48 deposits into 45 different deposit addresses (likely money-mule accounts). One small on-chain tx make clustering link wey help map the withdrawal and funnel wallets. Shibarium dev Kaal Dhairya talk say the team go forward the full evidence to the FBI and don ask KuCoin to cooperate; earlier K9 Finance bounty (up to 25 ETH) no claim and some bounty funds return. Technical market notes: SHIB recently break above short-term moving averages and close near $0.00000917, with support about $0.00000880; if e get sustained daily close above about $0.0000093 fit target $0.00001000. Traders make dem watch exchange responses, law-enforcement action, on-chain flows and volume — tracing funds to centralized exchange fit mean recoveries or freezes, wey be key catalysts for short-term volatility or upside.
Bullish
Di wey dem trace di jọb money go KuCoin (central exchange) and di team decision to forward evidence to FBI na better catalyst. If KuCoin co‑operate or law enforcement fit freeze or recover di assets, e fit comot selling pressure and support SHIB price, wey fit give upside or reduce downside risk. Di news don already cause like ~8% short‑term price move and technicals dey show say SHIB don clear short‑term resistance levels; if e close daily above di mentioned threshold (~ $0.0000093) and sustain, e fit target higher levels. But uncertainty still dey: long investigations, failed recovery, or more negative disclosures fit bring back volatility. For traders, di immediate effect na bullish bias tied to possible recoveries and positive sentiment, but make dem dey monitor exchange statements, on‑chain flows and volume for confirmation.