Shiba Inu Coin (SHIB) launched the long-awaited Layer 2 network "Shibarium" today (17th). Unexpectedly, the gorgeous transformation that was supposed to win with technical content actually started badly. It failed within 24 hours of going online and crossed the line. Chain Bridge crashed, and a large number of users complained that cross-chain transactions were delayed in their accounts.

Shibarium Scan block explorer data shows that Shibarium stopped producing blocks for 8 hours earlier today. Although it briefly resumed producing blocks about 4 hours ago, it only lasted less than half an hour and then stopped again.

According to statistics, a total of US$2.46 million in user funds are currently trapped, including US$1.7 million worth of Ethereum and US$762,000 of Shibarium governance token BONE.

However, what is even more incredible is that shortly after the news of the crash came out, users on Discord were immediately banned, and then screenshots of internal conversations within the team were exposed, in which lead developer Shytoshi Kusama said bluntly, "We are finished." , and stated that assets bridged to Shibarium could not be restored.

In case yall were wondering how Shibarium is going pic.twitter.com/S5vjTxoMDk

— ʎppɐꓷ ɯooɹɥS (@shroom_daddy) August 16, 2023

In response to this outsourcing incident, blockchain security team Beosin recommended that users temporarily stop using Shibarium, while on-chain detective Zach The node of the blockchain client software) has indeed crashed, saying that the block explorer Shibarium Scan is very "poorly" designed.

Affected by the news, Shiba Inu Coin (SHIB) fell 8% in the past 24 hours; ecological coins BONE and LEASH fell 19% and 22% respectively.

This article Shibarium is off to a bad start online! The cross-chain bridge crashed and nearly 2.5 million US dollars were trapped. First appeared on Blockchain.