The Tier 2 solution that the Shiba Inu (SHIB) community has been eagerly awaiting, Shibarium, is causing great controversy when it turns out to be a ‘copy’ of another network! The scandal could lead to the liquidation of $5 million worth of BONE tokens…
Shiba Inu removed from million-dollar BONE staking contract after turmoil
The Shiba Inu ecosystem has been in turmoil recently as $5 million worth of BONE was pulled from the staking contract following the controversy surrounding Shibarium. Shiba’s Layer 2 solution, Shibarium, faces accusations that it is nothing more than a replica of the Rinia network.
Shibarium aimed to provide a decentralized Blockchain platform to support various decentralized applications (dApps) and smart contracts. As Cryptokoin.com reported, Puppynet, a test phase, was published a short time ago.
Introducing the Shibarium Early Public Beta! Find out about it, see the #shibthemetaverse WAGMI Temple area, and a a stop to the Ryoshi FUD here in this blog post. https://t.co/Dr3tAGl9PG
— Shytoshi Kusama™ (@ShytoshiKusama) March 11, 2023
Stolen claims widespread: SHIB drops 10%
The turmoil surrounding the Shibarium led to double-digit destruction at the SHIB price. The second largest meme token has lost 10% at one point today.
It all started when an official on Shiba’s Discord channel pointed out that Shibarium shares the same Chain ID as Rinia Testnet 917:
… Why does it seem like Shibarium got the testnet genesis file from Rinia testnet?
HOLY SHIT. Serious escalation in official $SHIB discord.
Shibereum is a ripped chain from Rinia, they forgot to change chain ID.
Mod tells us about manipulation and silencing. $bone $shib $leash## pic.twitter.com/Lw8IDidDqA
— Rancune (@Rancune_eth) March 16, 2023
Community member Steve said, “The Chain ID is the simplest thing any Blockchain developer looks for when deploying a Blockchain. “Using an already existing identity is insufficient, as the blockchain is not working properly and anyone trying to interact will instead interact with other chains,” he wrote.
Developers and other prominent community members were quick to address concerns. Discord’s JesusM said, “There is absolutely no evidence that this is a fork launched last month. The code is always forked. Moreover, there is no confirmation that it is so,” he wrote.
BONE melted 18%, $5 million worth of BONE can be sold
BONE, ShibaSwap’s native token, has tumbled close to 20% after alleged stolen goods.
However, the recent announcement that the project is only a replica of the Rinia network has caused significant unrest among investors and users. The community is concerned about the legitimacy of the project, which led to an exit from the staking contract, and the $5 million BONE token was not staked.
Response from Shiba Inu developers
Shiba Inu developer Kaal Dhairya shed some light on the allegations about the Shibarium codebase:
To deploy some FUD since we did alpha network deployment, several chain IDs were randomly chosen: 417 (Alpha), 517 (Staging) and 917 (Pre -Pod or Beta) and these chains were not registered anywhere at that time, Puppynet network I made the mistake of not checking again when it started. Now I will reconfigure the new version of the BETA network with a new chain id. New builds will be rare in the future, but possible as we will still be in the BETA phase. I wish you good luck and hope we can all work together.
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