Shiba Inu, a popular cryptocurrency project, has gained a significant following among retail investors. However, this also makes them a prime target for scammers in the crypto industry, who are constantly finding new ways to deceive unsuspecting individuals. One of these methods involves creating fake tokens.
Recently, Shiba Inu’s team noticed that malicious parties have been taking advantage of the project’s new developments by faking certain aspects of it. In response, the team issued an official warning to alert their community. In a tweet, they emphasized that the token called $Treat has not been launched yet and urged people to be cautious of scammers pretending otherwise.
Unfortunately, this is not the first time that Shiba Inu has faced impersonation attempts. Last month, the situation escalated when the team launched Shibarium, a highly-anticipated layer-two network. The team acknowledged that this launch also provided an opportunity for bad actors to develop scam decentralized applications (dApps) and rug-pull tokens. They advised the community to prioritize research by thoroughly examining the project’s Telegram and Discord channels, assessing the community’s atmosphere, scrutinizing social media posts, and checking Etherscan.
It is crucial for retail investors to remain vigilant and exercise caution when engaging with cryptocurrency projects like Shiba Inu. Scammers are constantly evolving their tactics, and it is important to stay informed and verify information from credible sources.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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