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Market News

SHIB Team Clarifies Shibarium Issue Trend On X Was FUD

Amid the ongoing FUD around Shibarium, the team denies any bridge issue.

Written By:
Gopal Solanky

Last updated: August 17, 2023 1:23 PM
Published 2023-08-17
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SHIB Team Clarifies Shibarium Issue Trend On X Was FUD

The popular memecoin Shiba Inu is facing backlash from the crypto community with the critics citing funds are stuck in Shibarium bridge after hours of its mainnet launch. However, the team denies that ‘there is no bridge issue.’ 

https://t.co/mSnE6b9hMD

— Shytoshi Kusama™ (@ShytoshiKusama) August 17, 2023

Shytoshi Kusama, the Shiba Inu official shared a statement saying it’s all fud. It adds, “any screenshot you see of me saying any issue is false and your funds are safu.”

The statement further clarifies that, “Our technical difficulty is not an issue of Shibarium, but instead, from the MASSIVE influx of transactions and users that happened at the same time when we announced that Shibarium is live.”

In statement claims that the Shibarium team has allotted 400 Million compute units for a month. While on launch, it experienced 160+ Million compute units in nearly 30 minutes.

There were rumors being spread on X (Twitter) about a message from Shytoshi Kusama, “We F*&%ed up hard, we can’t recover the ETH bridged” causing a lot of panic among the SHIB community. 

https://twitter.com/KevinSvenson_/status/1691968330028990667

Later Shytoshi commented on the tweet in a calm manner claiming it to be only a FUD.  

There were 1000 ETH and 600,000 BONE deposited in Shibarium within 15 minutes of its launch. The team is overwhelmed by “ShibArmy’s” response to the launch as it says, “we never expected THIS much traffic, instantly.” 

“Give us time to scale with the amazing team at Unification and others, and then bring up our amazing chain once again so that we can start our journey towards perpetual decentralization,” said Shytoshi in the statement.

Also Read: 33B SHIB Shifted to Mystery Account Amid Ongoing Selling

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky, Senior Reporter for Markets and Protocols at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Senior Reporter, Markets & Protocols at The Crypto Times, based in Ahmedabad. He covers institutional crypto adoption, Bitcoin treasury strategies, DeFi markets, protocol ecosystems, Ethereum network activity, Hyperliquid, on-chain trends, and broader digital asset market movements. Gopal has been active in the crypto ecosystem for more than six years. Before joining The Crypto Times full-time in 2023, he worked as a freelance crypto content writer, developing a strong understanding of blockchain infrastructure, DeFi protocols, market cycles, token mechanics, and peer-to-peer systems. His reporting focuses on explaining how protocols work, why market movements happen, and how institutional and on-chain activity affects crypto investors and builders. At The Crypto Times, Gopal regularly writes market analysis, protocol explainers, breaking news, and technical breakdowns across Bitcoin, Ethereum, DeFi, altcoins, treasury companies, and Web3 infrastructure. He also conducts on-the-record interviews with regional Web3 founders, protocol teams, and ecosystem leaders. His work has been cited by external publications, including Vulture.com, in coverage of major crypto stories such as the Hawk Tuah memecoin controversy. His reporting has also contributed to The Crypto Times’ coverage of major industry events, including FTX-related developments, institutional crypto adoption, and emerging protocol narratives. Gopal holds a Bachelor’s degree in Computer Applications, giving him a technical foundation for analyzing blockchain systems, crypto infrastructure, and market data.

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