Shiba Inu

Web3 cybersecurity firm Beosin recommends users refrain from using Shibarium for the time being as transactions cannot be processed properly.Today, blockchain analytics firm Beosin <a href="https://twitter.com/BeosinAlert/status/1692003409602445743" rel="noopener noreferrer nofollow">reported</a> technical issues with Shibarium, a newly launched Ethereum L2 scaling solution associated with the popular memecoin Shiba Inu. &#34;Transactions on Shibarium are stuck in a pending state. $1.7 million is currently locked on ETH,&#34; Beosin shared with its Twitter followers, advising users to temporarily stop using Shibarium.Read also: <a href="https://coinpaper.com/1942/shib-s-lead-developer-attributes-the-project-s-success-to-the-shib-army" rel="noopener noreferrer nofollow">SHIB’s Lead Developer Attributes the Project’s Success to the SHIBArmy</a>More details were provided by pseudonymous crypto influencer Shroom Daddy, who reposted the announcement from Shibarium&#39;s developer Shytoshi Kusama about the problems the blockchain team experienced with the recovery of the bridged Ether.Shroom Daddy also mentioned non-functioning running blockchain client software (RPC). The block height on Shibarium, which indicates a position in a blockchain and is defined by the number of confirmed preceding blocks, reportedly experienced abnormal fluctuations that &#34;changed up and down&#34; instead of increasing steadilyThere are also reports of problems with the block scanner preventing blockchain users from checking their account balances.Some users doubted that these reports were real and asked the famous on-chain detective ZachXBT for confirmation. &#34;No idea but RPC is dead and also awful block explorer. It’s a sloppy launch regardless,&#34; the Web3 sleuth <a href="https://twitter.com/zachxbt/status/1691962886585815081" rel="noopener noreferrer nofollow">commented</a> on the situation.Read also: <a href="https://coinpaper.com/1760/shibarium-blockchain-set-to-blast-off-this-august-kusama-reveals" rel="noopener noreferrer nofollow">Shibarium blockchain set to blast off this August, Kusama reveals</a>Some Twitter users claim that the validation of transactions on Shibarium worked properly for a short moment after the announcement of the technical problems, but the operations were soon suspended again.Meanwhile, another on-chain security firm, PeckShield, <a href="https://twitter.com/PeckShieldAlert/status/1692068068309242094" rel="noopener noreferrer nofollow">recorded</a> a 7% drop in the price of Shiba Inu which might be caused by the unsteady work of Shibarium. At press time, the data from CoinMarketCap <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">showed</a> that the token&#39;s price drop reached almost 8%, leaving SHIB&#39;s value at $0.000009087.<a href="https://coinpaper.com/1951/shibarium-technical-issues-disable-transactions-worth-1-7-million?utm_source&#61;referral&amp;utm_medium&#61;publish0x&amp;utm_campaign&#61;beosin-shibarium" rel="noopener noreferrer nofollow">Read the full article on Coinpaper.</a>

Shibarium Technical Issues Disable Transactions Worth $1.7 Million

Coinpaper.com

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