Last week, Shiba Inu lead developer Shytoshi Kusama revealed that venture capitalists had invested $12 million in TREAT tokens. This investment aims to fund the development of a layer-3 privacy blockchain on Shibarium. However, scammers have capitalized on this announcement, spreading false information about the token’s release.
Shibarmy Scam Alerts recently addressed the circulating misinformation within the Shiba Inu community. Contrary to the claims made by scammers, the Shiba Inu ecosystem team has not officially released the TREAT token. The community-driven channel advised investors to refrain from engaging in any transactions involving TREAT until legitimate sources confirm its launch.
Protecting Investor Security
Investors are urged to prioritize their financial security and that of others by spreading awareness about the situation. Shibarmy Scam Alerts emphasized the importance of vigilance and warned against falling victim to fraudulent schemes.
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Scammers previously spread misinformation about the launch of TREAT alongside Shiba Inu’s stablecoin SHI. However, the Shiba Inu ecosystem team consistently debunked these claims. Last year, a malicious tweet circulated, falsely announcing the launch of TREAT and SHI. Shibarmy Scam Alert cautioned investors to conduct thorough research before making any investment decisions related to these tokens.
Resurgence of Scam Attempts
Despite previous warnings, malicious actors have resurfaced their fraudulent claims following the recent announcement of TREAT’s funding round. These scammers aim to exploit the growing excitement surrounding the token’s development. Once officially launched, stakeholders anticipate that TREAT will fulfill crucial roles within the Shiba Inu ecosystem.
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It will serve as the governance and utility token for the upcoming L3 blockchain. Additionally, Shiba Inu enthusiasts can earn TREAT by staking their SHIB tokens in designated liquidity pools. However, there is currently no official launch date for the token. Shiba Inu marketing lead Lucie mentioned in a recent post that TREAT is scheduled to launch in 2024/2025.
It’s crucial for investors to remain cautious and stay informed to avoid falling prey to fraudulent schemes surrounding the TREAT token.
