Shiba Inu Team Issues a Major Warning About This Dangerous Scam

TL;DR

• The SHIB community has been warned about fake Treat tokens being promoted by scammers.
• The ShibArmy is urged to stay vigilant, verify information through trusted sources, and report any suspicious activity.

Beware of Fake Tokens

The popular meme coin Shiba Inu (SHIB) has one of the largest communities in the crypto world, encompassing millions of investors and proponents. As such, it is no wonder that some members are often targeted by bad actors who come up with original ways to drain their funds.

Shibarmy Scam Alerts (an X account focused on the security of the SHIB community) recently warned “Shibarians, Shibizens, and all members of the wider crypto space” to be extra cautious due to fake Treat tokens that are endorsed by scammers. The team reminded that TREAT is not released yet:

“This is a reminder that some groups are pushing a fake Treat token claiming to be part of the Shiba Inu Ecosystem. Please remember, the official Treat token has NOT been released yet. Any token claiming otherwise is a scam designed to deceive you.”

The working group assured there will be an official announcement once TREAT sees the light of day. In the meantime, the SHIB community should stay vigilant and avoid any interaction with those non-existing tokens.

“If you’re unsure about any information or token, always verify through trusted sources within the Shiba Inu Ecosystem. Stay safe and protect your assets, ShibArmy. Let’s continue to support one another and keep our community secure,” the team concluded.

The Previous Alert

Earlier this month, Shibarmy Scam Alerts warned that some scammers have been misusing the name of Ryoshi to attract attention and thus deceive members within the ecosystem. Ryoshi is believed to be the anonymous creator of the meme coin, with their true identity still a mystery.

“We urge all ShibArmy members to remain vigilant, stay alert, and question anything that seems suspicious. Always verify information through official channels, and if you encounter any fraud or misuse of the Ryoshi name, report it immediately,” the warning reads.

It is worth noting that Ryoshi did not stay in charge for long, passing the torch to another anonymous developer using the nickname Shytoshi Kusama. Not long ago, the latter took part in an interview, wearing a mask and having their voice modulated.

They stated that they have no intention of disclosing their identity, emphasizing that SHIB’s strength doesn’t rely on a small group of people.

Kusama also committed to stepping down by year’s end, handing control over to the community, thus reinforcing the goal of achieving true decentralization.