The Shibarium team, which developed the layer-2 blockchain for Shiba Inu (SHIB), has posted two messages on the ‘Shib.io Blog’ to discuss the recent issues with Shibarium’s unsuccessful launch on August 17th.
Shytoshi Kusama, a key developer for Shiba Inu Ecosystem and Shibarium, wrote a blog post titled “Shibarium: ALL IS WELL.” In it, Kusama reassured that there are no problems with bridges and advised against trusting screenshots that suggest otherwise.
Shytoshi Kusama said, “Let’s deal with the fud. There is no bridge issue, any screenshot you see of me saying any issue is false and your funds are safu [safe].”
The developer attributes the network outage to a significant surge in transactions. Shibarium remains inactive, and Kusama mentioned their ongoing dedicated efforts to enhance scalability before relaunching both the chain and bridges.
In another recent post dated August 18, Kaal Dhairya also accuses the majority of news sources of disseminating ‘fear, uncertainty, and doubt’ (FUD) through fabricated screenshots, which he claims are in line with automated bot activity. Dhairya elaborates that they have sought assistance from influential allies.
Regarding the underlying issue, Kaal appears to share Shytoshi’s perspective on the extensive congestion within a single block, leading the network to trigger a “fail-safe mode.” He pledges to provide an update on August 19 while also reassuring users that their funds remain secure.
“We stand by the statement that the funds “paused” in the bridge are safu [safe] and as a result have chosen to “insure” the entire amount of $2 Million dollars in case there is any issue after Shibarium is restarted,” said Kaal Dhairya.
Funds remain trapped within Shibarium’s bridge
Nonetheless, more than 1,010.61 ETH (equivalent to $1.7 million at the current value of $1,686/ETH) belonging to users remain stuck within Shibarium’s contract (“0xc38…75870”).
The latest actions attempted, namely ‘Initialize’ and ‘Grant Role’, have not succeeded. Etherscan indicates that the first attempt failed due to an “out of gas” error during contract execution, and the second attempt failed with an error message stating “AccessControl: the sender must be an admin to grant.”