According to U.Today, Coinbase has sent 152.3 million SHIB tokens to dead wallet addresses. These wallets are identified as inactive or unrecoverable, meaning the tokens held in them cannot be accessed or transferred under normal conditions. The movement of these tokens occurred from Coinbase’s platform and was uncovered through on-chain analysis. The activity relates to SHIB, the native token of the Shiba Inu project. Coinbase is highlighted in this development as the source of the transfer.
The sent tokens were directed to addresses classified as dead due to lack of private key availability or no recorded transaction activity from those addresses. No further action involving withdrawal, transfer out, or use of these tokens was reported. The observation reflects a typical occurrence in blockchain ecosystems where tokens may end up in inactive wallets over time. Coinbase’s role in this instance centers on having transferred the tokens to such addresses, as identified through public ledger data.
