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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.


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.”


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

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Featured Image: Shutterstock/Tongsai