TLDR
- The “Shib Owes You” (SOU) program will use NFTs to immutably record debts to affected users.
- All Shiba Inu brand projects will contribute to the restitution fund to cover the $4 million in lost funds.
- New security measures have been implemented, including hardware custody and a 7-day waiting period for withdrawals.
The Shiba Inu development team is working hard to restore community trust after a turbulent year. The initial step is the launch of “Shib Owes You” (SOU), a reimbursement plan specifically designed to compensate those who suffered losses during the Shibarium Plasma Bridge hack. It is worth recalling that this attack, which drained approximately $4 million earlier this year, left a deep mark on the perceived security of the Layer-2 network.
The initiative operates through the use of Non-Fungible Tokens (NFTs) assigned to each victim. These digital assets serve as an immutable cryptographic record of the principal debt on the Ethereum blockchain. This structure allows users to not only track their refunds but also sell their claim rights, consolidate positions, or split compensation transparently.
New Security Layers and the Impact on the SHIB Market
To prevent a similar hack from happening again, developers have migrated the most critical smart contracts to a hardware custody system. Additionally, a seven-day “cold period” protocol has been introduced for all bridge withdrawals. While this measure reduces immediacy, it ensures that any suspicious activity can be detected and halted before funds leave the ecosystem.
Despite the effort to recover its community, the price of Shiba Inu (SHIB) has not reacted positively; in fact, it dropped 3% following the announcement and has accumulated a fall of nearly 17% over the last 30 days. Technical indicators, such as the Chaikin Money Flow (CMF) at -0.22, suggest that large investors are taking profits rather than accumulating.
In summary, while the team rebuilds the technical and financial infrastructure following the Shibarium Plasma Bridge hack, the market continues to show a bearish structure. The survival of peripheral ecosystem projects will now depend on their ability to generate revenue and contribute to the restitution fund, prioritizing quality and accountability over the quantity of launches.
