Major Warning From Team Shiba Inu (SHIB) About Another Dangerous Scam: Details

TL;DR

• Scammers pose as SHIB developers to promote fake tokens. Users are advised to check sources and avoid sharing personal information.
• Fraudsters exploit the Shiba Inu community because of its large and active base, particularly during stock market rallies.

“Urgent alert from Shibarmy”

Shibarium Trustwatch – an X account dedicated to exposing scams in the Shiba Inu ecosystem and protecting users – has sounded the alarm again. The team claimed that bad actors are using the name of Shytoshi Kusama (the lead developer of the meme coin project) to promote fraudulent tokens in fake groups. The community is recommended has stay away from people so deceptive and not sharing any personal information.

“Always verify the authenticity of any group or token before participating. Stay vigilant and protect yourself and others from these scams”, reads the warning.

This is not the first alert the team has issued this month. Two weeks ago he warned Users should avoid interacting with dubious individuals who present themselves as experts and offer services with SHI and TREAT.

The SHIB team reminded that these meme pieces are not yet onlineby adding that users should follow the official X accounts of Shiba Inu, Shytoshi Kusama, Kaal Dhairya (another top developer), and Treat for more updates on the topic.

SHI and TREAT aim to improve the utility and stability of the Shiba Inu ecosystem. The first is a future algorithmic stablecoin designed to maintain a constant value and counterbalance market fluctuations.

TREAT, on the other hand, is a reward token with various uses. It will support SHI by providing liquidity, replace BONE as a reward token for ShibaSwap, and take participate in the Metaverse and various Shiba Inu-themed blockchain games.

Shortly after, the team warned that fraudulent people or entities hype the ecosystem to gain victims’ trust and later “push the random tokens they have been paid to promote. »

“Additionally, there are accounts that gain ShibArmy’s trust, build a following, and then sell these accounts to scammers. Always stay vigilant, do your research and stay safe, Shibizens,” the statement said.

Why this community?

The Shiba Inu community is often attacked by scammers due to to its large size. He consists of millions of investors, developers and promoters and is very active on social media platforms.

Fraudsters take advantage of this, by pretending to be official projects or influencers and offering fake gifts to scam victims.

It should be noted that crypto scams tend to increase when the market is in a bullish mode. Rising prices of many top digital assets are creating an influx of newcomers who could not be aware of the dangers in space.

Recall that Bitcoin (BTC) recently hit an all-time high of over $98,000, while the global industry market capitalization is well over $3.3 trillion. Despite its shaky performance last week, SHIB also saw a notable resurgence. Its valuation has increased by around 30% over the past month.