Fake Wormhole SHIB Address Removed on CoinMarketCap
- CoinMarketCap delists many fake addresses of SHIB tokens.
- Address pairs with SOL, BNB and LUNA all have been removed.
- Only ETH address available for SHIB visible upon CoinMarketCap.
The news took to fire upon the crypto industry and upon Twitter too. A few hours back, CoinMarketCap has actually removed the Shiba Inu (SHIB) addresses of various pairs. With keen watch it’s evident that CoinMarketCap has removed three major addresses. These are possibly the Solana (SOL), Binance Smart Chain (BNB) and the Terra (LUNA). Moreover, the only one blockchain address left for the SHIB was that of Ethereum (ETH).
Besides, there has been quite radical critical acclaim by the SHIB team upon CoinMarketCap by mid of January 2022. Accordingly, SHIB accused CoinMarketCap of listing certain fake addresses for SHIB, which evidently are fake addresses. Moreover, the SHIB team officially announced not to use those addresses for SHIB, which if done will result in all your assets being drawn off and looted out.
Reasons Behind Removal of SHIB Addresses
Though the above has been quite hot news weeks back, it seems CoinMarketCap has finally acknowledged the issue just today. True to the fact, the SHIB address removal by CoinMarketCap was actually first noticed by a Twitter user by the name ‘@shibainuart’. In spite of this, the user posted a tweet instantly, taking a screenshot of the only available address for SHIB, which is indeed, of ERC-20.
Report: CoinMarketCap removes wormhole addresses from the Shiba Inu $SHIB page within their platform. Leaving only the #Ethereum contract intact. pic.twitter.com/X0wc0hW4pi
— MILKSHAKE (@shibainuart) February 8, 2022
As the news took on fire, CoinMarketCap acknowledged the reason behind the removal of certain SHIB addresses. Accordingly, CoinMarketCap states that those addresses which were removed are suspected wormhole addresses and are indeed found to be fake ones.
Moreover, CoinMarketCap states that such wormhole addresses are recurrent and frequent upon mostly multi-chain and cross-chain bridges. On the other hand, the ETH co-founder, Vitalik Buterin too acknowledged similar issues recently. Vitalik Buterin states that due to the development and enablings of cross-chain and multi-chain bridge transactions, 51% of the attacks are done through major wormhole addresses upon just a small scale blockchain platform.
Much top agree, the recent hack of $4.4 million which took place on Meter muli-chain platform, obviously is a similar hack corresponding to the above said.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
