Shiba Inu: Shibarium Bridge Exploiter Liquidates Entire BAD Tokens as Sell-Offs Continue

In the latest development surrounding the Shibarium Bridge exploit, attackers have sold off the last of their BAD token holdings.

Christopher Johnson (Mr. Lightspeed), President of Lightspeed Crypto Services and advisor to the Bad Idea AI (BAD) project, recently drew attention to the transaction.

According to him, the attackers liquidated their stash of BAD tokens yesterday. Blockchain data also confirmed the transaction, showing that the attackers executed a swap of 2,057.39 BAD tokens for 3.2 ETH through MetaMask.

Notably, the attacker has been selling the tokens, according to on-chain data. Kaal Dhairya, a top developer of Shiba Inu, also confirmed the sale in his personal foreword.

Over the past three days, the address linked to the attackers — the same one (0x45b…0DF2a) that received the 3.2 ETH — has liquidated most of its assets.

On September 20, it sold 1.01 billion SHIB for 2.90 ETH ($12,107) through MetaMask. The following day, the address also swapped another stash of 3 billion SHIB for 8.64 ETH. Additionally, it also liquidated some of its LEASH holdings, selling 1,000 LEASH for 3.46 ETH.

Current Holdings

At press time, the address (0x45b…0DF2a) has a balance of 51.16 ETH, currently valued at $213,515. It also holds 4,746 LEASH tokens worth $52,255.

In the same wallet used to offload the BAD tokens, 0x3B7…511A8, the attackers still hold roughly 3,630 LEASH (valued at about $40,075). Notably, they also control additional tokens from the exploit across other wallets.

Hackers Ignore 50 ETH Bounty

In the meantime, the development has sparked mixed reactions within the community, with several members voicing frustration over the continuous sell-offs.

However, another user pointed out that the attackers have so far rejected the Shiba Inu ecosystem team’s 50 ETH (approximately $208,000) bounty offer to return the stolen funds. Instead of considering the reward, they have been selling the stolen tokens for ETH.

The Shiba Inu team has implemented containment measures to prevent further exploits. This includes suspending the Shibarium Bridge until further notice, while collaborating with authorities and security researchers to recover the stolen funds.

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