Trusted

Financial Impropriety, Historical Revisionism and More: Shibburn Takes Aim at Shiba Inu Leadership

2 mins
Updated by Geraint Price
Join our Trading Community on Telegram

In Brief

  • Shibburn, the Shiba Inu burn tracker platform, alleges that Shiba Inu lead developer Shytoshi Kusama is not a real developer.
  • Shibburn accuses Shytoshi of forking ShibaSwap from SushiSwap and Shibarium from Polygon, and questions the utility of funds for Shibarium
  • Despite claims from Shiba Inu founder Ryoshi of owning no SHIB tokens, Shibburn claims that Ryoshi owns over $1 billion worth of SHIB.
  • promo

The Shiba Inu (SHIB) burn tracker platform Shibburn has made several allegations against Shytoshi Kusama, the lead developer of the ecosystem.

The Shiba Inu ecosystem, which is known for the loyalty of its community, known as SHIB Army, has apparently become a hotbed of infighting. 

Shibburn Alleges Shytoshi Kusama is Not a Real Developer

Shibburn has apparently had a falling out with other members of the Shiba Inu ecosystem. Targeting Shytoshi Kusama, Shibburn wrote:

“See Shytoshi tends to hide from the truth a lot. It’s why they want anyone who calls them out, ‘the Fudders,’ eliminated. Shytoshi knew they would get properly exposed, and wanted to make sure everyone turn a blind eye when it happens, and dismiss it as… well you guessed it, ‘FUD.'”

Shibburn claims that Shytoshi is not a real developer, alleging that ShibaSwap is a SushiSwap fork. ShibaSwap is the Shiba Inu ecosystem’s decentralized exchange (DEX).

Read more: Shiba Inu Burn Rate Explained: Understanding Token Burning.

Moreover, according to Shibburn, even the Shiba Inu ecosystem’s Layer 2 solution, Shibarium, is “no actual work,” but a Polygon fork. The burn tracker platform questions about the utility of the funds if Shibarium and ShibaSwap were forks of other projects.

In simplest terms, forking means copying the code of a project and making slight changes to it.

Finally, Shibburn also claims that Ryoshi, one of the founders of Shiba Inu, owns more than $1 billion worth of SHIB tokens. While Ryoshi has maintained that he owns zero tokens. Shytoshi Kusama yet to comment on the allegations.

According to Shibburn, over two million SHIB tokens have been burned in the last 24 hours.

Shiba Inu burn
Shiba Inu burn. Source: Shibburn official website

Read more: How To Buy Shiba Inu (SHIB) and Everything You Need To Know

Do you have anything to say about Shibburn’s allegations or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024

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 ConditionsPrivacy Policy, and Disclaimers have been updated.

Harsh.png
Harsh Notariya
Harsh Notariya is an Editorial Standards Lead at BeInCrypto, who also writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created...
READ FULL BIO
Sponsored
Sponsored