Shibarium Launch Woes Trap $1.7M of Ethereum

Approximately $1.7 million worth of Ethereum is currently stuck in Shiba Inu's layer-2 network Shibarium due to serious issues encountered just a day after its launch. Blockchain security team Beosin confirmed the funds are locked and advised users to temporarily stop using Shibarium. Additionally, $762,000 worth of BONE, a Shibarium governance token, was sent to the contract. The network has experienced a lack of new transactions and issues with the RPC system. Shiba Inu developer Shytoshi Kusama denied bridge issues and attributed the technical difficulties to a massive influx of traffic. The price of Shiba Inu (SHIB) and its associated tokens, BONE and LEASH, have seen significant drops amidst the reported glitches.