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Shiba Inu Price Plunges 10% amid Shibarium Code Plagiarism Accusations

Shiba Inu Price Plunges 10% amid Shibarium Code Plagiarism Accusations

The controversy on Discord regarding Shibarium's code plagiarism caused Shiba Inu to plunge 10% on March 16th, as holders began panic selling.

Heated conversations on the Discord Bone channel between moderators and Shiba Inu (SHIB) investors have broken out, negatively impacting the price of SHIB.

The drama was uncovered on Twitter by a user dubbed Rancune, who shared the Discord chat screenshots.

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The screenshots revealed that some users claimed that the Shibarium beta testnet may have plagiarized its Chain ID from another blockchain. In short, questions were raised on whether the Shiba Inu beta testnet was copied from the Rinia Chain blockchain.

A Discord user named Steve commented on Discord claiming that the Shibarium testnet had used the Rinia testnet genesis file and only changed its name. According to them, the developers forgot to edit the Chain ID.

The comments came barely a week after the Shibarium blockchain Layer-2 network's beta version was launched. A beta testnet mimics real-world functionality, while a Layer-2 network is built on top of the main blockchain to boost network scalability.

However, Discord group moderators and investors disagreed with the allegations. They noted that copying code was a common practice. Another Discord user highlighted that there was no evidence the testnet was copied from another chain.

Others stepped in and stated that blockchains use code from other networks all the time. They noted that even if a part of the code was copied, it did not mean all of it was the same.

Questions regarding the similarity between the Shibarium and Rinia code first surfaced in February. However, this is the first time it has directly impacted the price of SHIB.

Kaaldhairya, one of the developers of Shibarium, tweeted that they would redeploy the beta testnet with a new Chain ID. He added that such redeployments would be rare in the future.

At the time of writing, SHIB retails for $0.0000106, recording a 4.12% price decrease in the last 24 hours.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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