Shiba Inu Token Burn Delayed Due to Ledger Attack
Date: 2023-12-17 Author: Dima Zakharov Categories: BLOCKCHAIN, IN WORLD
The Ledger Attack
The Shiba Inu community had eagerly awaited the planned destruction of SHIB tokens from December 14 to 16. However, the project team failed to follow through on their commitment, causing frustration among meme-based cryptocurrency enthusiasts. What irked people the most was the deafening silence from the project's team members, who offered no explanation for the delay in liquidating the assets.
Digarch's Insights
A prominent Shiba Inu community member known as Digarch, speculated that the delay was due to security concerns. He published a message from another Shiba Inu team member, DaVinci, assuring that the tokens would eventually be burned as initially intended. Digarch's belief is that the tokens were not destroyed promptly to safeguard the community's security.
Ledger Library Breach
The breach of the Ledger library exposed decentralized applications to potential cyberattacks. As a precautionary measure, Shiba Inu representatives opted to postpone the token burn.
Satoshi Kusama's Announcement
On December 16, Satoshi Kusama, the lead developer of Shiba Inu, confirmed that billions of SHIB tokens are "getting ready to be cooked," but did not specify a precise date for their destruction. Kusama encouraged community members not to wait in vain for the token burn and instead focus on promoting cryptocurrency and blockchain technology.
