It’s been quite a drama for a certain cryptocurrency over the past couple of days – Shiba Inu (SHIB) – with its vocal community being part of an intense commotion on Twitter. In fact, the SHIB community was in an online spat with CoinMarketCap and they didn’t hold back.
As one may know, SHIB incorporates only the Ethereum chain. However, the most visited cryptocurrency-related website dished three fake SHIB contract addresses on its website, fueling a ruckus.
To make matters worse, CMC allegedly ignored the claims at first. Now that the problem has gained traction, the website wants to rebuild its bridges.
Clearing the base
Developers behind popular meme token Shiba Inu (SHIB) issued a statement alleging that CoinMarketCap listed three fake SHIB contract addresses. These belonged to Binance Smart Chain (BNB), Solana (SOL), and Terra Luna (LUNA) blockchains.
As reported by official representatives of the SHIB, the aforementioned addresses were designed to sell Shiba Inu. However, the contracts listed on the tracker were fake. At least that’s what Leaders of the SHIB claims. It was in light of the same that the network urged CMC to remove them.
CoinMarketCap, however, didn’t hold back in its own response. It issued a reply just hours later on Twitter. Not so surprisingly, CMC said otherwise.
According to the latter’s response, the contract addresses indicated on the page were wormhole addresses designed to facilitate cross-chain transactions. The CoinMarketCap team has also invited the Shiba Inu team to reach out through “official channels” by referring to a support page.
Squash the beef, let’s collaborate
Well, surprisingly, it was the website that reached out to the meme coin’s developers in an effort to resolve recent issues related to “wormhole” addresses.
In an elaborate Twitter thread, SHIB Army cadres alerted its users in a tweet that said,
“We are happy to announce, CoinMarketCap has reached out to our developer team and is in current discussions in regards to this, our most recent incident correlating to Wormhole contracts, to verify they are not from any malicious sources.
Our internal races respond to multiple communication channels, to ensure everyone is informed and positively oriented.
Here, it’s worth noting that the addresses were still available on CoinMarketCap, at the time of writing. The network pointed out that all their tokens were ERC20.
As of this writing, SHIB was still bleeding, however. It was trading around $0.000027 after a 1.2% price correction. Did the aforementioned episode help SHIB? Well not really. But that’s only a short-term picture for now.
