Shiba Inu Developers Clear Final Hurdle for LEASH v2 Migration
10/9/2025

Shiba Inu developers announced Tuesday that the long-delayed LEASH v2 migration will begin in the coming days, following approval from security firm Hexens for the new token and its migration contract.

The approval resolves months of uncertainty stemming from a hidden flaw in the original LEASH code that undermined its fixed-supply design. Originally marketed as a scarce asset, the v1 contract included a rebase mechanism and a “hidden-in-plain-sight” control path, allowing pre-authorized proxies to alter supply. The flaw, dating back to 2020, was exploited earlier this year, causing a 20% increase in token supply and eroding confidence in the token’s scarcity.

LEASH v2 is designed to permanently close the loophole. Hexens, known for auditing Polygon zkEVM and LayerZero, reviewed both the v2 token and its migration system. Developers confirmed that the new contract cannot mint tokens under any circumstances, and the full v2 supply has been minted into a multisignature wallet.

During migration, v1 tokens will be locked or burned, with v2 tokens released proportionally from the multisig wallet. The new design relies on OpenZeppelin ERC-20 libraries, keeping the token simple and fully auditable, with advanced features like privacy layers to be added later via wrappers.

SHIB prices were down 1% over the past 24 hours, in line with a broadly flat crypto market.