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Shiba Inu Developers Settle Dispute with Coinmarketcap, to Fix ‘Wormhole’ Addresses’

CryptocurrencyJan 19, 2022 09:31AM ET
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Shiba Inu Developers Settle Dispute with Coinmarketcap, to Fix ‘Wormhole’ Addresses’

The Shiba Inu developers have finally reached an agreement with Coinmarketcap – the world’s most-referenced crypto price-tracking website. The duo has now agreed to work together to fix the recent issues of “wormhole” addresses.

The Shiba – CoinMarketCap Fallout

Earlier in the week, members of the Shiba Army alerted CoinMarketCap about three wormholes Shibu Inu contract addresses on their official platform.

The official Shiba Inu Twitter (NYSE:TWTR) account had also tweeted about the CoinMarketCap addresses, saying that they were unsafe to use. Many believed these to be fake smart contracts on Binance Smart Chain, Terra, and Solana.

CoinMarketCap took to Twitter to clarify that Wormhole addresses for SHIB facilitate cross-chain transactions. However, Shiba Inu accused the CoinMarketCap team of being unresponsive.

With this, the Shiba Army claimed that the move created FUD (fear, uncertainty, and doubt) about SHIB and negatively affected the coins’ price. Furthermore, some community members accused the data tracker of working against Shiba Inu.

Later, Shiba Inu reported that both teams were now working together and discussing to ensure the wormhole contracts were not from malicious sources.

On the Flipside

  • SHIB continues to free fall – the meme coin has dropped by more than 68% over the last 3 months

Why You Should Care

Shiba Inu, a project that prides itself on decentralization, has echoed many concerns about the “centralized” manner CoinMarketCap operates.

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Shiba Inu Developers Settle Dispute with Coinmarketcap, to Fix ‘Wormhole’ Addresses’
 

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