The Community Should Watch Out for This Scam

TL;DR

• The Shiba Inu community faces warnings about a fake airdrop from a malicious Shibarium tech channel.
• Scammers exploit the memecoin’s branding for fraudulent schemes, prompting cautionary advice on connecting wallets to unfamiliar decentralized apps.
• A SHIB-related token, Calcium (CAL), is flagged as having no future value by a Shiba Inu developer.

‘Stay Safe’

The Shiba Inu community received another stark warning that could prevent investors from becoming victims of fraud. The X (Twitter) member using the handle Vet Kusama warned there is a malicious Shibarium tech channel that offers a fake airdrop. 

I just came across the fake shibarium tech channel. Please remember “NO AIRDROP”. Stay safe #ShibArmy pic.twitter.com/T6VzaQ8rHE

— Vet KUSAMA ™ (@vetkusama) October 16, 2023

Previously, they alerted the community that the SHIB Telegram admin account was compromised, and hackers have used it to promote another non-existing token distribution.

The team behind the popular memecoin quickly solved the issue. The account’s passwords have been changed, whereas the X profile has implemented a two-factor authentication (2FA) to prevent another possible jeopardy. 

Other Shiba Inu Scams in the Past Month

LUCIE – Shibarium’s Marketing Strategist – warned that wrongdoers might employ the memecoin’s name and the logo of the recently launched layer-2 blockchain solution Shibarium in their fraudulent projects. As such, they advised people to conduct proper due diligence before hopping on the bandwagon.

Shibarmy Scam Alerts – the X account dedicated to protecting from fraud – also sounded the alarm, maintaining that individuals should pay special attention when connecting their cryptocurrency wallets to unknown decentralized applications. 

The team suggested that scammers are “crafty” and can create Dapps that look identical to the original ones related to Shiba Inu (SHIB), Bone ShibaSwap (BONE), Doge Killer (LEASH), and other memecoins.

Last but not least, Shiba Inu developer Kaal Dhairya alerted traders to stay away from SHIB-related token Calcium (CAL). The asset was created “only for the specific purpose to mint and renounce BONE” and will not have any future value, they insisted.