Scammers have now taken advantage of upcoming projects in the Shiba Inu ecosystem to scam community participants, provoking reactions from its members. The page @susbarium
Scammers promoting fake tokens
The Shiba Inu ecosystem has grown exponentially from its days as a simple meme token to having its own layer 2 network. The developers now presenting new projects to reinforce the utility of the ecosystem, some of which are the SHI stablecoin and the TREAT token. While these tokens were announced as part of the overall Shiba Inu ecosystem, they have not yet been officially launched for trading.
However, Shiba Inu lead developer Shytoshi Kusama recently exposed a fake account promoting fake TREAT tokens to target unsuspecting investors. The hoax account seems particularly reliable, as Kusama is currently following it.
Warning: the Shiba ecosystem $TREAT has not been officially released. Beware of malicious groups trying to scam you. Tokens not connected to the Shiba ecosystem are circulating; Stay alert against false claims and prioritize your safety.
Take a look at the Shiba ecosystem… pic.twitter.com/CkEoi2m2SP
— Shibarmy Scam Alerts (@susbarium) November 19, 2023
“It looks like you bought the account and it showed that I followed you,” Kusama. sayingshowing the lengths to which scammers went to promote fake tokens.
Additionally, some scammers have created fake sites that look almost identical to the real SHIB magazine page. Scammers trick unsuspecting users on these counterfeit websites by asking them to connect their wallets to create fake NFTs. These wallets are then emptied immediately after connecting them to the websites.
SHIBARMY WARNING:@X
Stay alert as more scammers copy THE SHIB magazine page and ask you to connect your wallets to create fake NFTs so they can empty them.
Only use links from our official sources, check the URLs and NEVER rush to connect your wallet… pic.twitter.com/XFMWcAYdmh
— Shibarmy Scam Alerts (@susbarium) November 19, 2023
What’s next for Shiba Inu?
Scammers often created fake profiles on social networks from Shiba Inu developers to promote scams, but community members have been warned to only use links from official sources and to always be on the lookout for false claims.
It would seem that some enthusiastic members of the Shiba Inu community have already fallen for some of the scams. Data of Etherscan shows that there are now over 1,000 holders of the fake TREAT token and over 300 holders of the fake SHI stablecoin. According to Coinmarketcap, the fake gift token is now trading at $0.0004174.
SHIB is now trading at $0.000008377. Although the cryptocurrency is still up 20% in a 30-day period, it is currently down 3.6% in the last 24 hours. According to cryptanalyst Captain Faibik, Shiba Inu could increase up to 200% in the middle of next month.
Shibarium, on the other hand, was recently recognized as one of the five most active networks on the NOWNodes platform.
SHIB price drops to $0.000008 | Source: SHIBUSD on Tradingview.com
Featured image of Finbold, chart from Tradingview.com
