Shibarium Launch Crisis; $1.8 million in Crypto gets Stuck

Shibarium, a new crypto platform, faced problems just a day after Launching. Now, about $1.8 million in crypto is trapped.

The new Shibarium system has a big issue. Transactions are waiting and not completing, so over 1,003 ether (equal to $1.8 million) is stuck.

Beosin, a team that looks at blockchain safety, says this money is locked. They've told people to stop using Shibarium for now.

There haven't been any new transactions approved for five hours.

There's a picture online from a chat between Shibarium workers. It's not confirmed, but in it, one person says they can't get back the Ethereum that was sent to them.

ZachXBT, an expert on blockchain, says the launch was messy.

Right now, you can't access the Shibarium website. Also, users can't send messages in the Shibarium chat group.

The Shiba inu crypto coin's price went down by 9%. Other related coins, Bone and Leash, fell by 13% and 25% after the launch.

Shibarium was Launched yesterday at a big conference in Canada.