HomeAltcoinShiba Inu Whale Abruptly Moves 800,215,912,624 SHIBs as Dogecoin-Rival Developer Dispels Code...

Shiba Inu Whale Abruptly Moves 800,215,912,624 SHIBs as Dogecoin-Rival Developer Dispels Code Rumors


A Shiba Inu (SHIB) whale is abruptly moving hundreds of billions of tokens as a project developer debunks rumors that Shibarium, the ecosystem’s new Layer 2 protocol, uses stolen code.

New data from whale tracking platform Whale Alert reveals that the wealthy crypto investor suddenly moved 800,215,912,624 SHIB, worth $8,230,620 at the time of transfer, from Shiba Staking to an unknown wallet.

The change in tokens occurs as a pseudonymous developer of the Shiba Inu ecosystem. dispel rumors that Shibarium, which launched its highly anticipated beta testnet earlier this week, features code stolen from another blockchain.

According to the developer, the problem lies with the Testnet Chain ID, an alternative way of differentiating between blockchains, and it will be fixed and relaunched.

“Dispelling some FUD [fear, uncertainty, and doubt] since we did the Alpha network implementation: some random string IDs were picked: 417 (Alpha), 517 (Staging), 917 (pre-pod/beta), and these strings weren’t registered anywhere at the time . I made a mistake by not double checking when the Puppynet network was launched.

Without getting into fistfights, I will re-implement [a] new version of the beta network with a new chain ID. Redeployments will be rare in the future, but are possible because we will still be in [the] beta phase. I wish the blockchain good luck and hope we can all work together.”

SHIB is trading at $0.000002 at time of writing, down 17.2% over the last 24 hours.

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Featured Image: Shutterstock/Tongsai


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