Get the scoop on finance - sign up for mobile alerts
Altcoins
| On
March 16, 2023

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

By Mehron Rokhy

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, utilizes stolen code.

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

ADVERTISEMENT

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

According to the developer, the issue lies with the testnet’s Chain ID, an alternate way to tell blockchains apart, and it will be fixed and relaunched.

“Dispelling some FUD [fear, uncertainty, and doubt] ever since we did the Alpha network deployment: few chain IDs were picked randomly – 417 (Alpha), 517 (Staging), 917 (pre-pod/beta), and these chains were not registered anywhere at that time. I made a mistake to not recheck when the Puppynet network was launched.

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

ADVERTISEMENT

SHIB is trading for $0.000002 at time of writing, a 17.2% decrease during the last 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines

&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tongsai