Shiba Inu’s Shibarium development team has opened an internal investigation into previous rug pulls allegedly orchestrated by bad actors within its ecosystem.
The probe follows growing unease over how certain projects are exploiting the Shibarium network while undermining its credibility.
Shibarium Investigates Internal Rug Pulls
On May 31, Davinci.Shib, a core contributor to Shibarium, disclosed the initiative on the social media platform X.
According to him, certain entities within the network have been profiting off the system while simultaneously discrediting it. He added that these groups operate under a veil of criticism while extracting value from the infrastructure they undermine.
According to Davinci, the development team intends to publish any verified findings. However, if evidence remains inconclusive, they will refrain from further action. The goal, he emphasized, is to maintain transparency without fueling baseless speculation.
These developments follow growing warnings from within the Shiba Inu community about malicious actors.
Shiba Inu’s marketing lead, Lucie, recently cautioned users about the rising number of scam attempts. She stressed that attackers can hijack social media accounts to spread misinformation or promote fraudulent projects.
Shiba Inu Welcomes DAO
While developers tackle internal threats, Shiba Inu has taken a significant step toward decentralization.
On May 29, the ecosystem officially launched ShibDAO, a community-driven governance framework that empowers users to vote on critical upgrades and proposals.
ShibDAO introduces a tiered governance model that distributes responsibilities across four key DAOs.
SHIB DAO will oversee community initiatives, BONE DAO will guide protocol development, LEASH DAO will mediate internal disputes, and TREAT DAO will fund dApp innovation and ecosystem growth.
The DAO also enables the formation of smaller sub-DAOs, allowing community members to claim a Shib Name (SNS) and establish self-governing groups. These can focus on niche areas such as art, DeFi, or public goods.
Meanwhile, this launch coincided with Bury 2.0, a revamped staking system that enables users to lock SHIB, BONE, LEASH, and TREAT tokens to earn voting power. The longer and larger the stake, the more influence a holder gains within the ecosystem.
“Stake SHIB, BONE, LEASH, or TREAT to gain influence. The more & longer you stake, the more voting power you earn,” Shibarium update stated.
The combined launch of ShibDAO and Bury 2.0 signals Shiba Inu’s evolving ambition—shifting from a meme token to a structured, utility-rich Web3 platform, governed by its community and built for long-term sustainability.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
