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Summary from the TLDR Crypto newsletter

Shibarium was supposed to be an Ethereum L2 that would utilize Shiba Inu for gas fees and also allow BONE, TREAT, and LEASH tokens to be used in the ecosystem. To kick off the launch, users had to bridge ETH to Shibarium. Unfortunately, the Shibarium devs botched the bridge contract and the ETH that was bridged, over $1.7m worth at one point, is now stuck and unretrievable.