Shiba Inu’s lead developer Shytoshi Kusama has denied speculation that he is leaving the project. The denial came after weeks of silence on social media and a major security breach on Shibarium Bridge that resulted in losses of about $2.3–2.4 million in SHIB price, ETH, and other tokens.
Kusama called the rumors “utterly preposterous.” He confirmed that he is working with other developers, including Kaal Dhairya, in what he described as the project’s “war room” to handle the situation and decide on next steps.
Weeks of Silence and Token Underperformance Fuel Rumors
The speculation began after Kusama went quiet on X. His last post before the recent update was on August 5, when he announced plans for ecosystem elections. The silence raised fears that he was no longer active.
Frustration grew as Shiba Inu’s ecosystem tokens — BONE, LEASH, and TREAT — delivered weak price performance over the summer. For many holders, the hack combined with poor token performance created doubts about the project’s direction.
The lack of leadership visibility added to the sense of uncertainty, with some community members suggesting that Kusama had shifted his attention away from Shiba Inu.
Kusama acknowledged that his public presence has been limited because of his focus on artificial intelligence (AI). Since May, he has hinted at writing a final paper on AI and described July as “Jul-AI,” suggesting that Shiba Inu could play a role in what he sees as the next technological wave.
He stressed that these AI initiatives are not a departure from Shiba Inu but are designed to benefit the entire ecosystem. That includes SHIB, the governance token BONE, and the reward token TREAT. However, he admitted the work is complex and said he prefers not to speak prematurely until more progress is made.
Elections Planned to Strengthen Shiba Inu Governance
The Aug. 5 announcement about ecosystem elections is a key development. Kusama said the project will hold elections to strengthen decentralized governance. These elections are meant to give the community more direct influence in decision-making, shifting responsibility away from a single leader.
For a community worried about abandonment, the election process could be a turning point. If carried out transparently, it may reassure holders that Shiba Inu’s leadership is not reliant on one person.
The Shibarium Bridge hack highlighted security gaps that the team must fix. Kusama said the developers have frozen affected tokens, paused some functions, and are working on audits. Still, the community wants more detail on how vulnerabilities will be addressed.
Kusama’s continued anonymity adds another layer of concern. While pseudonymity is common in crypto — even Bitcoin’s creator remains unknown — it creates risks. Investors and regulators often view hidden leadership as a weakness, especially after a major breach.
At press time, Shiba Inu price stands at $0.000013, down 0.22% froma day ago.
