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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.
Authors credited by the source: Christian Encila
Published by Holder based on an external source.
