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Shiba Inu\u2019s highly anticipated layer2 network Shibarium mainnet launch<\/a> started to a rocky start with the network recording stuck transactions and funds.<\/p>\n Blockchain security firm Beosin<\/span><\/a> disclosed that about $1.7 million worth of Ethereum was currently locked on the bridge contract, adding that transactions on the network were pending.<\/p>\n CryptoSlate<\/em>, using data<\/a> from Shibariumscan, can confirm that the last successful transaction on the network occurred four hours ago as of press time.<\/p>\n Onchain sleuth ZachXBT shared<\/span><\/a> a screenshot from Etherscan showing that an additional $762,000 worth of BONE tokens were stuck in the bridge contract.<\/p>\n This means that about $2.5 million worth of digital assets are currently stuck on the network\u2019s bridge contract.<\/p>\n Meanwhile, the crypto community identified<\/a> other issues ranging<\/a> from the nonfunctional Remote Procedure Call to an \u201cawful\u201d block scanner, making it difficult for users to query their balance.<\/p>\n The network\u2019s flaws have attracted criticism, forcing ZachXBT to describe its launch as \u201csloppy.\u201d Meanwhile, Beosin advised users to \u201ctemporarily stop using Shibarium.\u201d<\/p>\n Amid these issues, Shiba Inu\u2019s marketing executive, Lucie, warned<\/a> the community on X (formerly Twitter) about malicious actors who might develop scam decentralized applications and rug-pull tokens, among other things, on the Shibarium network.<\/p>\n According to Lucie, Shibarium is open for anybody to build upon, like other blockchain networks like Polygon (MATIC<\/a>) and Ethereum (ETH<\/a>). The marketing executive warned that the \u201cmere incorporation of the term \u201cShibarium\u201d or \u201cShib\u201d in their names holds no credibility\u201d and advised the community to prioritize research before investing in any project.<\/p>\n \u201cPrioritize research: delve into their Telegram and Discord channels, gauge the community\u2019s atmosphere, scrutinize their social media posts, and check Etherscan.\u201d<\/p>\n<\/blockquote>\n The issues with the Shibarium launch have massively impacted the price performance of Shiba Inu-related tokens, with BONE<\/a> and SHIB among CryptoSlate\u2019s<\/em> top 10 losers of Aug. 17.<\/p>\n As per the data, SHIB fell more than 10% to $0.000009068<\/span> as of press time, wiping around $500 million from its market capitalization in the last 24 hours. On the other hand, BONE plunged 16% to $1.28367 at the time of writing.<\/span><\/p>\n The post Shibarium launch falters, $2.5M locked in bridged funds wiping $500M from SHIB market cap<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Shiba Inu\u2019s highly anticipated layer2 network Shibarium mainnet launch started to a rocky start with the network recording stuck transactions and funds. Blockchain security firm Beosin disclosed that about $1.7 million worth of Ethereum was currently locked on the bridge contract, adding that transactions on the network were pending. CryptoSlate, using data from Shibariumscan, can […]<\/p>\n","protected":false},"author":2,"featured_media":138364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138363"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138363\/revisions"}],"predecessor-version":[{"id":148109,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138363\/revisions\/148109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138364"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Opportunity for malicious actors?<\/h2>\n
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Shiba-related tokens falter<\/span><\/h2>\n