Shiba Inu SHIB Price Jumps 8% on Hack Probe Push

Shiba Inu’s SHIB token just spiked 8% in a day, hitting $0.00000917, as the team ramps up its fight against a major hack on the Shibarium bridge. Hackers stole $2.4 million in crypto, but fresh leads point to funds landing at KuCoin after a sneaky laundering path. This bold move by developers has investors buzzing—could this spark a bigger rally?

Hackers struck the Shibarium bridge hard back in September, draining about $2.4 million worth of assets like ETH and SHIB tokens. They pulled off the attack using a flash loan to grab control of validators and sign off on fake transactions. This exploit exposed weak spots in Shiba Inu’s layer-2 network, shaking trust among holders.

The team acted fast to limit damage, but the stolen funds slipped away through clever moves. Investigators traced the path, showing how attackers used tools like Tornado Cash to hide their tracks. That mixer scrambled the money trail, making it tough to follow at first.

Community members felt the hit right away. Many lost holdings in the bridge, and the news sent SHIB prices tumbling initially. But now, with updates flowing in, people see hope in the recovery efforts.

One key detail stands out. The hackers moved 260 ETH through 111 different wallets before parking funds at KuCoin. This step-by-step laundering showed a pro-level operation, but it also left clues that sleuths could pick up.

Team Turns to FBI for Hacker Hunt

Shiba Inu’s developers didn’t sit idle. They gathered solid evidence and handed it over to the FBI, pushing for a full probe into the exploit. This step marks a big shift, as the team seeks help from law enforcement to track down the culprits and maybe recover some funds.

On-chain detectives played a huge role here. They mapped out how the stolen ETH flowed from the hack wallet, through Tornado Cash, and into KuCoin deposits. KuCoin got looped in too, with requests for cooperation, but the exchange wants a formal case before freezing accounts.

This isn’t just about one hack. It highlights growing cyber threats in crypto, where mixers like Tornado Cash often shield bad actors. The FBI’s involvement could set a precedent for how projects handle such breaches.

Investigators noted specific moves:

• Funds split across multiple wallets to avoid detection.
• Tornado Cash used to mix and obscure origins.
• Final deposits hit KuCoin, tying the trail to a major exchange.

Users are watching closely, hoping this leads to justice and stronger security for Shibarium.

The push to authorities came after months of internal digging. A community figure even called out the team for delays in reporting, but now action is underway. This could rebuild faith and deter future attacks.

SHIB Price Rally Gains Steam

Amid the drama, SHIB’s price broke through key barriers. It climbed above important moving averages, reaching $0.00000917 in the surge. Traders point to the hack response as the fuel, with bulls stepping in strong.

The 8% jump happened in just 24 hours, reversing some earlier dips. Market reactions show how news like FBI involvement can flip sentiment fast in volatile crypto.

Volume picked up too, as more people bought in on the momentum. This rally isn’t isolated—it’s tied to broader optimism around Shiba Inu’s ecosystem fixes.

Some experts see this as a rebound from the hack’s fallout. Prices had dipped to lows around $0.000008, but the latest push signals recovery.

Technical Outlook Points to More Upside

Looking at charts, SHIB sits in a promising spot. It broke past the 50-day moving average, a sign of building strength. If buyers hold the line above $0.00000880, the token could eye $0.00001000 next.

Analysts use tools like RSI and MACD to gauge this. Right now, indicators show overbought but not extreme levels, leaving room for gains.

This table breaks down the main points traders watch. A dip below support might stall the rally, but holding firm could attract more investment.

Volatility remains high in meme coins like SHIB. External factors, like overall market trends or Bitcoin moves, will influence the path ahead.

The team’s privacy upgrades for Shibarium, slated for 2026, add long-term appeal. These could boost adoption and price stability down the road.

This whole saga reminds crypto fans how quickly fortunes change. One hack can tank prices, but a strong response flips the script. Shiba Inu’s push to nail the hackers and shore up defenses shows grit that could pay off big. It affects everyday holders by potentially making their investments safer and sparking rallies that grow portfolios.