Shibarium L2 Network is Restarted After an Outage

Shibarium’s Tier 2 solution, created by the SHIB token’s developers, has reinitiated withdrawals over the Ethereum bridge after a long launch setback.

Deployment of the mainnet took place on August 16, but the following day Shibarium experienced operational issues that entailed roughly 1,003 ETH ($1.8M) being stuck in the internetwork protocol.

Alongside that, BONE governance tokens – worth an estimated $762,000 – were stuck in the smart contract.

For nearly two weeks, no transaction went through in the cross-chain bridge.

Now, SHIB, LEASH and ‘wrapped’ ETH can be withdrawn from the protocol, the completion of which may take between 45 minutes and 4 hours.

Moreover, BONE withdrawals have also been enabled, yet transaction processing could take up to seven days.

Shibarium developers outlined that the incident was the consequence of a huge influx of traffic that arrived simultaneously after the network went live, affecting the servers and surpassing the planned operation limits.