Shibarium Hack Fallout: Shiba Inu Team Criticized For Not Reporting Breach
NegativeCryptocurrency
- The Shibarium Bridge hack, which occurred three months ago, resulted in over $3 million being drained from users, yet the Shiba Inu team has not reported the breach to law enforcement. On-chain investigators have traced the funds, indicating a clear path of laundering through various wallets and exchanges, but exchanges are awaiting a police case number before taking action.
- This situation raises significant concerns regarding the Shiba Inu team's transparency and accountability, as the lack of formal reporting may undermine user trust and the project's reputation in the cryptocurrency community.
- Amidst this controversy, Shiba Inu has seen fluctuations in its market performance, with recent developments such as a new debit card launch and a notable increase in its burn rate. However, there are also signs of potential bearish trends, suggesting a complex landscape for the cryptocurrency as it navigates both positive initiatives and serious security issues.
— via World Pulse Now AI Editorial System
