Shiba Inu (SHIB) fell over 10% to $0.00001043 after concerns were voiced about the future of Shibarium layer 2 networks. This took place in the late hours of Wednesday.
According to a report by ZyCrypto, the testnet for the beta version of Shibarium was introduced the week before last.
This allows users to analyze and provide input on problems that should be resolved before the final launch.
Nonetheless, even though the debut brought the eagerly anticipated Shibarium network one bit closer to release.
It would appear that SHIB supporters have been put off by the claims of wrongdoing leveled against the network’s creators.
Shibarium Creators Hacked a Code
On Wednesday, a developer who goes by the name Steve said that the Shibarium builders had taken the source code of a program. This course code is known as Renia.
But they had forgotten to alter the chain ID. This prompted considerable criticism from the community.
Why did the Shibarium test net modify the network name but not the chain ID from the Rinia testnet origin file? Steve posted the question on Shiba Inu’s discord server.
The question was posed by Steve in the Discord channel that is just for Shiba Inus. The term “chain ID” refers to a one-of-a-kind modifier that is used to differentiate one blockchain from another.
Steve speculated that the makers of Shibarium may have used a ruse to convince Renia’s owner to switch off her nodes. In order for them to be able to instantiate a node utilizing the origin file.
If the test net developer is telling the truth, this chain ID could only have been obtained through the Renia testnet.
Steve continued, explaining, it would involve direct communication between Shytoshi and Kaal, in which they would trick him into rebooting.
Just to steal his idea by making copies of his file and passing them off as their own. There is no way for it to be taken over.
Another developer accused Shytoshi, the primary developer of Shiba Inu, of engaging in unethical behavior and leveling allegations against him.
Another programmer said that Shytoshi was using defamatory statements and manipulation to cause problems for the whole team.
The developer alleges that Shytoshi terminated their employment, including several of the industry’s top developers. He also refused to be transparent or engage with them, which made the Shibarium project a one-man show.
In response to the allegations, Shytoshi made jokes to refute the allegations of false information spreading (FUD). In addition, it encourages the Shibarium community to keep up their level of attention.
Nevertheless, on March 15, a top Shibarium developer named Kaal Kdhairya appeared to agree that the claims were true.
When he tweeted that the company would update the BETA network to a newer version and a different chain ID.
The Devaluation of Shiba Inu-Related Tokens
But despite the assurance, the claims have continued, diminishing the worth of tokens associated with Shiba Inu’s surrounding area.
On the other hand, the BONE Shibaswap coin was trading at $1.28 US Dollars per token, as reported by the source. That represents a decline of more than 16% over the same time as the previous statistic.
The concerns were quickly addressed by the developers as well as other notable members of the community. JesusM, a Discord member, said there is no evidence that this is a fork of a chain launched the month before.
He continued by saying that there is always a break in the coding. In addition, there is not a single shred of evidence to support the notion that this was the situation.
As this article was written, both LEASH and BONE had experienced price drops of over 10% in the prior 24 hours.