Crypto Markets Face Challenges: Shiba Inu Addresses Exploit While Bitcoin Slides
Crypto Markets Face Challenges: Shiba Inu Addresses Exploit While Bitcoin Slides
The Shiba Inu team has issued a final ultimatum to the Shibarium bridge exploiter, offering a 20 ETH bounty as part of an escalated recovery campaign. Simultaneously, Bitcoin has experienced a 2% drop, falling below $107,000 amidst negative sentiment in Asian markets, outflows from ETFs, and 'whale' profit-taking, fueling concerns of a 'Red October'.
Shiba Inu Team's Ultimatum to Shibarium Hacker
Shiba Inu’s core contributors and the K9 Finance DAO have intensified their efforts to recover funds from the Shibarium bridge exploiter. They've deployed a bounty contract funded with 20 ETH and broadcasted direct messages to the attacker, setting an ultimatum for the return of stolen assets. This move underscores the team's commitment to securing the ecosystem following the exploit, signaling a proactive stance against the ongoing security breach.
Bitcoin's Bearish Start to the Week
The week has begun on a challenging note for the cryptocurrency market, with Asian markets opening to significant declines. Bitcoin, in particular, saw a 2% drop, falling below $107,000 USD. This downturn is attributed to various factors, including prevailing negative investor sentiment, profit realization by large holders (often referred to as 'whales'), and noticeable outflows from Bitcoin ETFs. These combined signals are reigniting fears of a challenging 'Red October' for the flagship cryptocurrency.