Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Watch Out: Shiba Inu (SHIB) Team Warns the Community About a Dangerous Scam

Watch Out: Shiba Inu (SHIB) Team Warns the Community About a Dangerous Scam

CryptopotatoCryptopotato2024/11/11 16:00
By:Author: Dimitar Dzhondzhorov

Shibarium Trustwatch sounded the alarm again: check out the latest alert.

TL;DR

  • Users are warned to avoid interaction with individuals who shill “random tokens.”
  • Scammers often mimic official SHIB channels and accounts on social media. The community should rely on trusted sources and be wary of new information from unknown accounts.

‘Always Stay Vigilant’

Shibarium Trustwatch – an X account providing security tips to Shiba Inu (SHIB) users – issued another important piece of advice during this bullish run.

Earlier this week, the team alerted the community to be extra careful when interacting with dubious people or entities that hype up the meme coin’s ecosystem. According to the warning, those bad actors do so only to gain the victims’ trust and later “push random tokens they’ve been paid to promote.”

“Also, there are accounts that gain the trust of ShibArmy, build a following, and then sell those accounts to scammers. Always stay vigilant, do your research, and protect yourself, Shibizens,” the team added.

Last week, Shibarium Trustwatch sounded the alarm again, reminding users that the SHIB-related meme coins SHI and TREAT are not live yet. This means that the community should stay away from scammers who claim the opposite and offer services with those coins. 

SHI and TREAT are designed to strengthen the SHIB ecosystem’s functionality and stability. The former is an algorithmic stablecoin aiming to hold a stable value, offset market volatility, and serve as a medium of exchange. TREAT, on the other hand, is a versatile reward token. It will support SHI’s liquidity, replace BONE on ShibaSwap, and play a role in the Metaverse and Shiba Inu-related blockchain games.

SHIB Users Often Targeted by Fraudsters

The second-largest meme coin has one of the biggest and most devoted communities, consisting of millions of members (holders, developers, and proponents).

The self-proclaimed Dogecoin killer garners significant interest and media coverage, often attracting newcomers who may lack experience with crypto security. Additionally, the Shiba Inu community is highly active on social media platforms like X, where impersonation is common. Scammers use these platforms to spread fake information quickly, often mimicking official SHIB channels or influencers.

SHIB users are advised to check only official sources, follow accounts of top developers (such as Shytoshi Kusama, the pseudonymous lead developer), and take new information from unfamiliar people with a grain of salt.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

SCRTUSDT now launched for futures trading and trading bots

Bitget has launched SCRTUSDT for futures trading with a maximum leverage of 75, along with support for futures trading bots, on November 21, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. SCRTUSDT-M perpetual futures: Parameters Details Listing

Bitget Announcement2024/11/21 12:07

The results of the Solana Radar hackathon have been announced, and the decentralized currency exchange platform Reflect has won the championship

This competition brings together founders and developers from over 120 countries, dedicated to building products in areas such as infrastructure, gaming, decentralized physical infrastructure networks (DePIN), DAOs, DeFi, payments, and various consumer applications.

Chaincatcher2024/11/21 12:00

Solana Hackathon TOP 3, CAI | CharacterX will launch unrestricted AI infrastructure services

In the AI era, infrastructure is like the roads and bridges of the digital world, and what we are building is a highway leading to the infinite possibilities of AI.

Chaincatcher2024/11/21 12:00