Shiba Inu Price Shows Resilience After BigONE Exchange Suffers $27M Supply Chain Attack
2025-07-16 10:22:23
Main Idea
The BigONE exchange suffered a $27M supply chain attack, including 9.69B SHIB tokens stolen, yet SHIB's price remained stable, highlighting market resilience and exchange security vulnerabilities.
Key Points
1. BigONE's supply chain attack exploited backend systems, resulting in the theft of 121 BTC, 350 ETH, 8.54M USDT, 1,800 SOL, and 9.69B SHIB tokens, totaling over $27M.
2. SHIB's price showed unusual stability post-attack, with only a brief dip before recovering, possibly due to low liquidity on BigONE or retail investor confidence.
3. The breach underscores the need for enhanced security measures in crypto exchanges, including multi-layered frameworks and rigorous vendor controls.
4. BigONE's swift response included freezing withdrawals, which may prompt regulatory scrutiny and industry-wide security improvements.
5. SHIB's price resilience suggests mature market dynamics, potentially indicating liquidity enhancement as a buffer against similar incidents.
Description
BigONE exchange suffered a major supply chain attack, resulting in the theft of over $27 million, including nearly 10 billion Shiba Inu (SHIB) tokens. The breach bypassed internal controls without
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