Get Answers: Shiba Inu Team Member Discusses Burning of $1.2 Million in SHIB Tokens

Claude Pascal
18 Dec 2023
Shibarium development team delays SHIB burns due to Ledger breach, disappointing Shiba Inu community, with no new timeline announced yet.

Shibarium Development Team Delays SHIB Burns, Citing Ledger Breach

The Shibarium development team has delayed multiple manual burns of SHIB, citing a possible impact from the Ledger breach that occurred on December 14. In a post on X (formerly Twitter), Digarch shared an update on the situation, including a screenshot of a Telegram message from DaVinci, who confirmed that the burns did not take place as scheduled. The team has not yet announced a new timeline for the burns.

Many members of the Shiba Inu community expressed disappointment with the delay, citing poor communication from the team. However, Digarch defended the team, suggesting that the Ledger breach may have affected the burn executions. The team had previously announced that the burning mechanism would undergo an update as part of a hard fork, with manual burns taking place before switching to an automated system in January.

The community has contributed significantly to the tokens that are to be burned, with Shibarium committing to burning Shiba inu from transaction fees earned. This has encouraged users to use the layer-2 network to increase the number of tokens burned. At present, there have been no transactions to burn SHIB based on data from Etherscan.

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