Major Shiba Inu (SHIB) Warning: Team Sounds the Alarm

TL;DR

• Community members are advised to follow official sources and avoid interactions with anyone claiming access to exclusive tokens or rewards.
• Fake groups and impersonators on Telegram are targeting users, so the team urges caution with linking wallets or sharing personal info.

Another Alert

Shiba Inu’s solid community (comprised of investors, proponents, and developers) is often targeted by bad actors who try to con victims and drain their funds.

Earlier this week, Shibarium Trustwatch (an X account that aims to provide security) warned users that the SHIB-related meme coins SHI and TREAT are not live yet. This means people should not interact with dubious individuals who claim the opposite and offer tempting opportunities. 

The team advised users to follow the official X accounts of Shiba Inu, Shytoshi Kusama (the pseudonymous leading developer of the meme coin), Kaal Dhairya (another prominent developer), and Treat for more clarity on the matter.

SHI and TREAT are tokens designed to enhance functionality and stability within the SHIB ecosystem. The former is an upcoming algorithmic stablecoin intended to maintain a consistent value. It will aim to counterbalance market fluctuations, providing a reliable medium of exchange.

TREAT is a reward token that will serve multiple purposes. It will provide liquidity for the SHI stablecoin, replace BONE as the reward asset for ShibaSwap, and play a role within the Metaverse and certain Shiba Inu-related blockchain-based games. 

Last week, the team behind Shibarium Trustwatch issued a similar alert, cautioning the community to be extra careful when dealing with people who promote services with TREAT. 

“The team behind this has no involvement with the Shib ecosystem, and the token they’re promoting will not be used in any official Shib projects,” the warning reads.

Watch out When Using Telegram

Earlier this year, the team alerted about fake groups on the messaging application Telegram associated with fraudulent airdrops. The team advised the Shibarmy not to link their wallets to any site promising free crypto:

“They will drain your wallet content. Stay safe, Shibarmy, and keep your eyes open,” the warning reads.

Prior to that, the working group maintained that scammers who pretend to be legitimate individuals are looking for an opportunity to hack victims via the messaging app:

“It has come to our attention that there are scammers operating on Telegram DMs, targeting unsuspecting users Shiba Ecosystem & Shibarium Tech group. These scammers may pose as legitimate individuals or organizations, attempting to deceive you into sharing personal information, financial details, or even sending them money.”