Shiba Inu security vulnerability triggers market panic, regulators send an alarm

The Shiba Inu (SHIB) blockchain suffered a cybersecurity vulnerability due to a smart contract vulnerability, causing its price to fall by 12% within 24 hours and unauthorized data access. The development team released an emergency update, introducing a multi-signature wallet and enhanced auditing capabilities. The Financial Action Task Force (FATF) highlights the need to strengthen DeFi security, while market analysts focus on its potential wider impact on the cryptocurrency market with mixed responses from the community.