Shiba Inu is undoubtedly one of the most popular cryptocurrency projects. But what’s interesting about it is that it boasts a tremendous base of retail investors as part of its community.
That said, retail investors tend to be the perfect target for a number of bad actors. And, in the crypto industry, scammers are becoming more creative by the day. There are a variety of ways in which hackers are trying to get your precious crypto, and faking a token is just one of them.
However, with many new developments in Shiba Inu’s roadmap, malicious parties seem to have been taking advantage and faking certain aspects of the project. This is why the team came out with an official warning:
$Treat has not been launched yet!!!
Beware of scammers pretending otherwise.
— | ✨Shibarium✨ (@LucieSHIB) September 12, 2023
This is far from being the first time someone’s tried to impersonate Shiba Inu. The situation escalated quite a bit last month when the team launched Shibarium – the layer-two network that used to be one of the most highly-anticipated launches for the community. Back then, the Shiba Inu team said:
Regrettably, this also provides an avenue for bad actors to develop scam dApps and rug-pull tokens, among other things. […] Prioritize research: delve into their Telegram and Discord channels, gauge the community’s atmosphere, scrutinize their social media posts, and check Etherscan.