Shibarium Network Security Incident and Recovery Efforts
Lucie, the official head of marketing for Shiba Inu, has delivered a message of resilience to the community following a recent security breach on the Shibarium network. The spokesperson emphasized the project's commitment to moving forward despite the exploit that affected users of the Plasma Bridge.
The marketing lead shared details about the ”SHIB Owes You” initiative through her X account. This compensation framework aims to address losses suffered by users during the hack. An AI-generated video accompanied the announcement, featuring major tokens from the ecosystem, including SHIB, LEASH, BONE, and TREAT, along with the WoofSwap decentralized exchange.
Understanding the SOU Compensation Framework
The SOU system represents a dual-layer approach to recovering user funds lost in the exploit. Lucie described the initiative as centered on accountability and transparency. The framework provides on-chain proof of claims and establishes a clear path for recovery.
The first layer operates on the Ethereum blockchain. SOU NFTs serve as an accounting mechanism that documents individual user losses. The Shiba Inu development team manages this component directly. Each NFT represents a verified claim tied to the Plasma Bridge incident.
The second layer functions on the Binance Smart Chain as a community-driven recovery effort. This component focuses on fundraising to reimburse affected users. The separation between accounting and recovery allows for transparent tracking while enabling broader community participation in the restoration process.
Lucie's message stressed that the development team continues building despite setbacks. Her statement ”builders rebuild” reflects the project's determination to restore trust and functionality. The SOU initiative demonstrates a structured response to the crisis rather than abandoning affected users.
SHIB Burn Rate Surges Over 900 Percent
Community activity has shown renewed vigor in token burning efforts. Data from Shibburn reveals a dramatic increase in the daily burn rate. The metric jumped 910.98% in a 24-hour period, signaling coordinated action from SHIB holders.
The community destroyed 4,369,584 SHIB tokens during this timeframe. Four separate transactions sent these coins to permanently inaccessible wallet addresses. The largest single burn removed 2,717,708 tokens from circulation. Another transaction eliminated 1,000,000 SHIB.
This spike follows three consecutive days of zero burning activity. The burn rate had remained in negative territory during that period. An earlier update from January 9 showed minimal activity, with only 19,000 SHIB burned and a burn rate decline of 98.56%.
At the time of writing, SHIB trades at around $0.00000834, down 5.01% in the last 24 hours.