SHIB Developer Issues Major Shibarium Security Update

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As a seasoned researcher with years of experience in the cryptocurrency realm, I’ve seen my fair share of upgrades and maintenance periods. The recent announcement by Kaal Dhairya regarding the Shibarium bridge security upgrade is no exception to this pattern.

The security update is being implemented on the Shibarium link for Shiba Inu (SHIB), enhancing its ability to safely connect with other networks.

As per a recent update from Kaal Dhairya, the SHIB developer, he revealed that an improvement to Shibarium’s bridge system is being implemented. This upgrade aims to secure users’ resources and uphold the platform’s credibility.

Shibarium in temporary downtime for maintenance

This update appears to be an intentional move by the main developers aimed at identifying and resolving possible weaknesses within the network, which could potentially pose security risks.

During this upgrade period, I find myself temporarily unable to use the Shibarium bridge for asset transfers or any other activities. It’s undergoing maintenance, so let’s wait patiently for its return.

🔧 Essential Notice: The Shibarium Bridge is undergoing a vital security enhancement and will transition into a temporary maintenance phase. Consequently, the bridge will be unavailable for use during this period, however, your assets are secure (SAFU). The burning process will momentarily cease, yet the foundation… remains unaffected.

— Kaal (@kaaldhairya) November 29, 2024

Dhairya, on the other hand, wanted to ease any concerns about the network. He made it clear that everyone’s money was safe even during the temporary shutdown.

For a short while, the bridge is going to be out of service, but don’t worry—your resources remain secure,” he reassured.

During the scheduled maintenance of Shibarium, I’m aware that the burn mechanism will temporarily halt. However, rest assured that all burned amounts are being logged diligently, and once the bridge is back online, the burning process will resume as usual. This means that my SHIB tokens won’t inadvertently find their way into dormant wallets during the upgrade.

Shibarium’s increased utility and community growth

The security upgrade that Dhairya mentioned is taking place due to the increasing use of the platform. However, he didn’t specify the exact details about the nature of the upgrade or the triggering event.

According to a previous report from U.Today, a steady rise in adoption has resulted in more Shibarium wallet addresses being created.

Toward the beginning of this month, Shibarium was just a handful of wallets short of reaching the 1.9 million milestone. However, since then, it has surpassed that goal and now counts 1,993,263 wallets, with just 6,737 more needed to reach 2 million. This undeniably indicates a growing use and acceptance of Shibarium.

Currently, it seems that the recent downtime hasn’t noticeably influenced the market value of Shiba Inu. At the moment, SHIB is being traded at approximately $0.00002742, marking a 5.18% growth over the past day. Furthermore, the trading volume has significantly risen by around 107.03%, reaching a staggering $1.56 billion.

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2024-11-30 16:00