Unscrupulous people continue to adopt new scam tactics to prey on trusting customers as the cryptocurrency market garners increased interest from institutional and retail investors. One of the most recent scams involves con artists pretending to be Shiba Inu (SHIB) team members who target centralized exchanges and portals.
Shiba Inu marketing expert Lucie called for a closer examination of this technique in a tweet she sent out today. Centralized exchanges and portals are recommended to confirm that any person approaching them is a Shiba Inu team member. She said, “This is extremely important.”
Lucie also provided the Shiba Inu ecosystem’s official Linktree website, which includes access to the Shiba Inu Ecosystem Portal, ShibaSwap, Shibarium Beta, Metaverse, Shiboshis, and social media accounts, among other SHIB resources. She addressed exchanges like Kraken, Robinhood, Crypto.com, and Binance and clarified that a few people had left the Shiba Inu team. As a result, she urged these organizations always to check their sources.
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The New SHIB Scam
Lucie recently issued a warning regarding information shared by Susbarium, a community-driven account committed to uncovering frauds involving the Shiba Inu ecosystem. A person who allegedly contacted exchanges and identified themselves as a member of the SHIB team was brought to the public’s attention by Susbarium.
The person is identified as Farhan Aslam on LinkedIn and describes himself as the “Head of Operation at Shiba Inu.” According to his LinkedIn profile, he is said to have been a Shiba Inu official since August 2020, the month SHIB was established.
Susbarium indicated that several exchanges had submitted reports mentioning that people similar to these had contacted them. According to the exchanges, con artists offer Shiba Inu coins on other chains, including Fantom and Binance Smart Chain (BSC).
As reported last month, Shibarium Telegram admin Ragnar warned about these bogus Shiba Inu tokens on other chains. Susbarium stressed, as did Ragnar, that the Shiba Inu ecosystem coins are only available on Ethereum. Other SHIB variants are nothing more than wormhole address-wrapped tokens.
Shiba Inu Investors Should be Careful
There have been several cases of Shiba Inu scams. Notably, The anonymous Shiba Inu lead, Shytoshi Kusama, was impersonated by a phony account last month, which announced the fake release of “Shibarium Testnet V2.”
In March, a new phony Kusama account appeared, intending to prey on unwary individuals. In April, a false Shibarium website posted on Google caused some investors to lose money.
Finance has no shortage of fraudulent schemes, and the cryptocurrency market is no exception. These dishonest people are now also interested in the Shiba Inu ecology. As a result, investors and supporters of Shiba Inu should exercise caution and refrain from clicking on any dubious links or interacting with unreliable sources.
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