Crypto

CoinMarketCap defends itself against three fake SHIB contract addresses


The crypto community on Twitter was filled with discussions surrounding the contract addresses for the Shiba Inu (SHIB) token on CoinMarketCap. The developers behind the meme coin stated that CoinMarketCap had listed fake SHIB addresses.

CoinMarketCap lists 3 fake contract addresses

The drama on Twitter happened after the developers of Shiba Inu stated that three fake contract addresses for the meme token were issued. The three addresses belonged to the Binance Smart Chain (BSC), Solana (SOL) and Terra (LUNA).

The staff from the Shiba Inu community stated that the three contract addresses were not safe. The staff also stated that the cryptocurrency price-tracking platform had not corrected the mistake despite being notified.

In its statement, CoinMarketCap stated that the contract addresses listed on the platform were actually wormhole addresses created to make cross-chain transactions easier. The platform also stated that the Shiba Inu token staff failed to go through the official channels to contact them about the issue.

CoinMarketCap has stated that it has already reached out to the Shiba Inu community to clarify the matter. The volunteer project lead for the Shiba Inu project, Shytoshi Kusama, has yet to comment on the matter.

However, Kusama retweeted another post from a Twitter user, saying, “If you are going to allow scammers to add false contracts in our page (WE ARE ONLY ERC-20), you should delist SHIB. At least you won’t be collaborating with scams. You’ve ignored us for months; where’s your professionalism?”

SHIB as a popular meme coin

Shiba Inu is one of the most popular meme tokens in the sector. The token has made notable gains over the past year and rallied quite a following in the crypto community. The community is highly active on Twitter, and it has been at the forefront to defend the meme token.

In December, a former influencer of the SHIB community who ran a medical platform filed a lawsuit against Shytoshi Kusama. The doctor also threatened to reveal the identity of Kusama during the court hearing. However, the SHIB community was quick to rush to the defence of their lead developer.

The medical site lost around 10,000 followers in just a few hours after news of the lawsuit emerged. Additionally, the Twitter posts made by the platform were filled with negative comments. The TrustPilot page for the site was also spammed with one-star reviews.

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