The official Shiba Inu Twitter account has issued an update on the current CoinMarketCap event, claiming that the leading cryptocurrency ranking website has already reached out to the Shiba Inu community.
The Shiba Inu community has drawn attention to three phoney smart contracts on three “Ethereum killers” (Binance Smart Chain, Terra, and Solana) that are presented on the “first page of crypto,” according to U.Today.
Because SHIB is an ERC-20 token, any non-Ethereum address is invalid, according to the creators. Tokens transmitted to addresses on other chains would be lost indefinitely.
CoinMarketCap quickly responded with a statement emphasizing that these are wormhole bridges allowing cross-chain transactions involving wrapped versions of the coin. As a result, the addresses in question are not harmful and are intended to enhance the user experience.
The Shiba Inu team recognizes the need for interoperability, but maintains that the level of security provided by such bridges has “basic constraints.”
Developers attacked CoinMarketCap for making judgments on the currency in a “centralized” way, echoing community concerns, while backtracking on charges of publishing false smart contract addresses.
The community behind the canine token had previously targeted CoinMarketCap for improperly reporting the cryptocurrency circulating supply.
It’s a wrap for the story
