Shibarium Hack: Exchange Action Stalled Without Law Enforcement Case

Three months after the Shibarium Bridge hack, which resulted in over $3 million being stolen, the case remains outside formal law enforcement channels.

Investigation Summary

On-chain investigators traced 260 ETH moved through Tornado Cash, with 232.49 ETH reaching KuCoin deposit addresses.
The laundering operation involved 111 wallets and 45 unique deposits at KuCoin.
A small transaction of 0.0874 ETH linked hidden wallets, revealing much of the attacker's network.

Challenges in Recovery

Exchanges require a police case number to disclose information or freeze accounts.
Without legal action, strong on-chain evidence can’t compel exchanges to act.
Community-driven investigations have provided data and methodologies to potential victims.

Calls for Legal Action

There is criticism towards the Shiba Inu team for not filing an official complaint despite having evidence.
Formal complaints are deemed necessary for exchanges like KuCoin to legally intervene.

Community members continue efforts to prompt formal investigations to facilitate recovery and accountability.