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In a recent scam alert, the developer of Shiba Inu, a popular dog-inspired cryptocurrency, warned the community about the availability of SHI and TREAT tokens.
The developer emphasized that these tokens are not yet accessible, raising concerns about fraudulent activities and cautioning potential investors.
Shytoshi Kusama Alerted the Community After Scammer Promoted Fake Version of SHIB Tokens
The top Shiba Inu developer took to Twitter on June 21 to warn the entire SHIB community of the potential scam threat. Kusama warned the community, cautioning against investing in SHI and TREAT tokens.
Notably, Kusama revealed this scam threat a few hours after unveiling the highly anticipated Shiba Inu physical product, Shibacals: Authenticated Collectibles.
This alert serves as a crucial reminder for individuals to verify the legitimacy of token offerings and exercise caution before engaging in any financial transactions. Scammers often take advantage of the hype surrounding popular cryptocurrencies to deceive unsuspecting investors.
Shibarium Scam Alerts Confirms Circulation of Fake SHI and TREAT Tokens
Shiba Inu’s scam tracking platform, Shibarium Scam Alert, acknowledged the circulation of fake SHI and TREAT tokens. According to Shibarium Scam Alert, these circulating tokens are illicit and should be avoided at all costs by the community members.
They shared a screenshot capturing the fraudulent activities of the scammer who has actively promoted the fake SHI and TREAT tokens on Twitter.
The screenshot showcased the scammer’s attempt to lure potential victims by enticing them with false promises of lucrative returns related to the non-existent SHIB and TREAT tokens.
According to the screenshots, a Twitter user named Lord Gaudy shared the contract address of the fake SHI and TREAT token. The scammer added that the Shibarium mainnet launch would take place this year on July 6.
After much research on this Twitter user, it is important to note that the account was created on July 10 and has over 2,000 followers already.
Among the followers of the scammer promoting the fake SHI and TREAT tokens on Twitter are notable members of the Shiba Inu community, including @ShibaInuHolder.
These community members, who hold influence within the Shiba Inu community, may have inadvertently encountered the scammer’s activities and possibly engaged with the content or unknowingly spread it.
This highlights the importance of verifying the legitimacy of token-related information, even when it appears to be shared by trusted individuals or influencers within the community.
Notably, the scammer promised the community an enticing offer, guaranteeing everyone who invests before the Shibarium goes live in July a massive return. He further claimed that SHI has a buy-and-sell Tax of 2% while TREAT has a burn rate of 0.25%.
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