Shiba Inu Discovers Fresh Scam Specifically Targeting SHIB Holders

The Shiba Inu ecosystem team has issued a stern warning to the community regarding the rampant launch of fraudulent tokens on ShibaSwap.
Scammers have been conducting a series of attacks within the Shiba Inu community in an attempt to deceive unsuspecting investors.
These malicious individuals specifically target the SHIB community due to its active participation. However, the Shiba Inu ecosystem team remains committed to exposing these scam tactics and ensuring the safety of investors.
Shiba Inu Reveals New Deceptive Strategies
In a recent cautionary message posted on Discord by DaVinci, it was revealed that deceitful individuals are creating illicit tokens and falsely claiming affiliation with the official ecosystem team.
Digarch, a prominent member of the Shiba Inu community, shared DaVinci’s warning on X yesterday.
The Shiba Inu Discord administrator emphasized that these malicious actors have abandoned their usual Ryoshi Research platforms to establish false credibility for their illicit projects. Instead, they have devised new methods that exploit the Shiba State and the Canine code.
DaVinci further explained that these scammers also include a link to the official Shiba Inu ecosystem website, shib.io, in their videos to make their fraudulent projects appear more legitimate.
Importantly, the Discord administrator urged community members to exercise caution and conduct thorough research before investing in any token. DaVinci clarified that the team has not yet launched the TREAT token, and any project claiming affiliation with it is part of a scheme to defraud unsuspecting investors.
Why Shiba Inu Has Not Banned Counterfeit Tokens on ShibaSwap
According to DaVinci, the team would have banned fraudulent tokens on Shiba Inu’s official decentralized exchange (DEX), ShibaSwap, if it were possible.
However, he acknowledged that the decentralized nature of ShibaSwap makes it impossible for a central authority like the official Shiba Inu ecosystem team to implement such a ban.
Nevertheless, DaVinci assured the community that the team will continue to condemn the unethical practices employed by scammers.
DaVinci’s warning comes shortly after Lucie, Shiba Inu’s marketing lead, cautioned SHIB holders against engaging with meme coin projects led by celebrities. It is worth noting that several high-profile celebrities, including Caitlyn Jenner and Davido, have been involved in rugpull meme coins that have resulted in losses for investors.
Disclaimer: This content serves as informational only and should not be considered financial advice. The opinions expressed in this article may reflect the author’s personal views and do not necessarily represent those of The Crypto Basic. Readers are strongly encouraged to conduct thorough research before making any investment decisions. The Crypto Basic assumes no responsibility for any financial losses incurred.