On Friday, $2.80 million worth of crypto tokens, mostly dog-related, were stolen from ShibaSwap, including about 250 billion KNINE tokens from liquidity staking agreement K9 Finance. K9 wants to redeem the tokens and is willing to pay a bounty to the hackers.
Last Monday, an address marked "k9dev.eth" contacted its "Dear Shibarium Bridge Hacker" on the chain, offering to pay a "bounty" of five Ethereum in exchange for the stolen KNINE tokens.
The K9 team's move may have been driven by a desire to prevent hackers from dumping such a large number of KNINE tokens, which would most likely cause their price to fall close to zero. The message also included a bounty contract address to facilitate trading and a warning that "the bounty will start to decrease after seven days" to apply pressure.
However, the hacker did not accept such a low offer, responding: "I cannot accept 5 Ethereum." The hacker, in turn, proposed that the ransom must not be less than 50 ETH (about $225,000), adding: "Please let me know when you are willing to pay that price."
On-chain ransom negotiations reveal that ShibaSwap hackers are not accepting low ransoms
2025-09-18 03:03:16
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