Shiba Inu crashes after Shibarium blunder: ‘We screwed up’

Shibarium was launched yesterday. This is the long overdue Layer 2 Shiba Inu Network (SHIB), which runs on Ethereum (ETH). Should be a great teacher for memecoin. for now But this dream was shattered. Something seems to have gone wrong when launching Shibarium.

Legendary words of the founder of the Shiparium

“We’re screwed”. These are the first words of Shitoshi Kusama, the lead developer of Shiba Inu, just after the launch of Shibarium. Post this in the internal Shiba Inu Telegram group. A screenshot of the message appeared on X, formerly known as Twitter. Kusama points to the fact that nearly two million dollars worth of customers’ ETH is tied up in the network.

In case yall was wondering how the chiparium goes pic.twitter.com/S5vjTxoMDk

– ʎppɐꓷ ɯooɹɥS (@shroom_daddy) August 16, 2023

Kusama reports that ETH is lost forever. However, how this could happen is still unknown. In addition to the loss of ETH, $762,000 in BONE tokens may also have gone missing, according to the on-chain detective reports. ZackXBT. Blockchain Beosin Security Team Advise Users should not use Shibarium temporarily.

Shiba Inu is stable, the price is dropping sharply

At the time of writing, Shibarium could not be used anyway, as the entire blockchain was down for hours. the blockchain explorer From the Shibarium it shows that the last transaction took place five hours ago.

It is possible that the Shiba Inu team itself has shut down the network, but they haven’t announced anything yet. Something is clearly going very wrong. ZackXBT is called a very sloppy launch. After years of anticipation for the mainnet cheparium, the launch is a huge impact on the crash. Meanwhile, members of Discord in Shabarum can no longer comment in chat. The Shibarium team tries to keep everything quiet, but that just can’t seem to work.

Meanwhile, the price of SHIB has already declined by nearly 9% in the past 24 hours and is currently standing at $0.00000899. The other tokens within the Shiba Inu ecosystem, BONE and LEASH, fell by 15 and 20 percent, respectively. Very hard taps for Shiba Inu and Shibarium. We continue to monitor the situation closely.