BONE Plasma Bridge Reopens With Address Blocking and Seven-Day Withdrawal Delay, Bounty Could Aid KNINE Recovery

• Rapid reinstatement with enhanced safeguards

• Address-blocking and a seven-day withdrawal delay reduce risk of illicit withdrawals.

• On-chain analysis and a dedicated bounty aim to recover ~ $700,000 in KNINE tokens and address a ~$4M incident.

Plasma Bridge update: enhanced security for BONE transfers with address blocks and a 7-day withdrawal delay—read the update and follow recovery efforts on COINOTAG.

What is the Plasma Bridge?

The Plasma Bridge is the cross-chain mechanism that enables transfers of BONE tokens between the Shibarium Layer-2 network and the Ethereum mainnet. The recent upgrade restores bridge operations with added controls designed to limit exploitation and provide teams with time to react to suspicious activity.

How does the Plasma Bridge update change security and user risk?

The update introduces two primary defenses: a system to block addresses flagged as suspicious and a mandatory seven-day withdrawal delay for BONE transfers. These measures are intended to give security teams a window to investigate anomalous transactions. The bridge has undergone multi-layer testing prior to relaunch, per the Shibarium announcement, to validate these protections.

Main improvements

The relaunch focuses on proactive loss prevention. First, bridge operators can now block addresses that are identified as potentially malicious. Once an address is flagged, it is prevented from initiating or completing interactions with the bridge, limiting the ability of bad actors to route stolen or illicit assets through the system.

Second, a seven-day withdrawal delay has been instituted for all outgoing BONE withdrawals. The delay creates a buffer period during which security teams can detect and respond to suspicious activity before funds reach finality on the receiving chain. This is a deliberate tradeoff: it increases protection at the cost of slower withdrawal finalization and a less immediate user experience.

Bridge maintainers report that the new release has passed multi-layer testing, including functional checks and security reviews, to ensure the address-blocking logic and delay mechanics operate as intended under realistic conditions.

Bounty update

Following a recent security incident on Shibarium, reported by COINOTAG and observable in on-chain records, attackers exploited validator control to approve fraudulent transactions. The incident led to an estimated combined loss of roughly $4 million in various cryptocurrencies.

Attackers reportedly borrowed BONE to obtain majority influence over validator-related keys, allowing them to authorize unauthorized transfers. In a separate but related loss, the K9 Finance DAO project reported approximately $700,000 in KNINE token theft from addresses the attackers controlled.

To address the KNINE theft, the project has announced a final bounty aimed at recovering stolen tokens from identified attacker-controlled addresses. Recovery efforts combine on-chain tracing, community reporting, and coordination among protocol teams. No external links are provided here; relevant reporting and statements are available from public sources including COINOTAG and official Shibarium communications (plain text references).

Frequently Asked Questions

How long are BONE withdrawals delayed after the Plasma Bridge update?

All BONE withdrawals now include a mandatory seven-day delay before finalization. This buffer is designed to allow security teams to investigate suspicious transactions. During this period withdrawals are pending and cannot be completed until the delay expires or the transfer is cleared.

Can I move BONE between Shibarium and Ethereum now?

Yes. The Plasma Bridge has been restored with enhanced protections. Users can initiate transfers, but should expect the new seven-day withdrawal delay for outbound BONE and potential address-blocking controls if an address is flagged for suspicious activity.

Key Takeaways

• Security-first relaunch: The Plasma Bridge returned with address-blocking and a seven-day delay to reduce exploitation risk.
• Measured tradeoff: Improved protections increase withdrawal finalization times, prioritizing asset safety over transaction speed.
• Active recovery efforts: On-chain tracing and a bounty target recovery of KNINE tokens and remediation of a ~ $4M loss reported after the incident.

Conclusion

The Plasma Bridge upgrade restores cross-chain transfers for BONE with a clear emphasis on security: address controls and a seven-day withdrawal delay are the cornerstone changes intended to prevent rapid exploitation. Recovery and bounty efforts continue for assets lost in the earlier incident. For ongoing coverage and official updates, follow COINOTAG. Published: 2025-10-14. Updated: 2025-10-14.