The attack on Ledger caused the delay in burning Shiba Inu tokens

The attack on Ledger caused the delay in burning Shiba Inu tokens

user avatar

by Max Nevskyi

3 years ago

A participant in the Shiba Inu cryptocurrency community, known by the pseudonym Digarch, speculated that the delay in token destruction was related to an attack on Ledger's hardware cryptocurrency wallet software.

The Shiba Inu startup team had previously promised to destroy over $1 million worth of SHIB coins from December 14 to 16. However, this promise was not fulfilled, leading to dissatisfaction among owners of this meme cryptocurrency, inspired by the famous "Doge" meme. Particularly infuriating was the silence of team members who did not provide explanations regarding the postponement of the asset destruction process.

Digarch posted a message from a Shiba Inu team member known as DaVinci, stating that the token destruction would still take place as originally planned. Digarch believes that the delay was due to security concerns.

The attack on Ledger's library posed a potential threat to decentralized applications, prompting representatives of Shiba Inu to take precautionary measures.

On December 16, the lead developer of Shiba Inu, Shitoshi Kusama, confirmed that several billion SHIB tokens would be destroyed, but the specific date of this event was not announced. Kusama urged community members not to wait indefinitely and instead actively engage in promoting the cryptocurrency and blockchain technology.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

DTCC Launches Tokenization Service to Enhance Blockchain Infrastructure

The Depository Trust Company (DTCC) has launched a tokenization service to enhance blockchain infrastructure, allowing the movement of eligible assets between traditional and tokenized environments.

user avatarBayarjavkhlan Ganbaatar

CFTC Takes Legal Action Against Utah to Protect Kalshi

CFTC files lawsuit against Utah to block enforcement actions against Kalshi, a prediction market platform.

user avatarElias Mukuru

Utah Charges Kalshi and Co-Founders with Illegal Gambling Promotion

Utah has filed criminal charges against KalshiEX LLC and its co-founders for illegally promoting gambling in the state.

user avatarMohamed Farouk

Arbitrum's Network Fees Remain Stable Amid Increased Activity

Arbitrum's daily user-paid fees remained stable at approximately 19,100 on October 28, despite an increase in active addresses, indicating a shift towards lower-cost interactions.

user avatarDiego Alvarez

Transaction Activity Increases but Lags Behind Wallet Growth

Transaction activity increased modestly to approximately 21 million on the Arbitrum network, despite a significant rise in active addresses, raising concerns about the sustainability of growth.

user avatarMaria Fernandez

Arbitrum Records Sharp Increase in Active Addresses

Arbitrum has recorded a sharp rise in daily active addresses, reaching approximately 109 million on October 28, marking a notable increase in blockchain activity.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.