Proceed with caution. Scammers are everywhere.
Shiba Inu is undeniably one of the most famous cryptocurrency projects. But what makes it unique is that it has a large number of retail investors as members of its community.
Retail investors are an excellent target for bad actors. And in the cryptocurrency industry, fraudsters are becoming increasingly cunning by the day. Hackers use an array of methods for stealing your valuable cryptocurrency, and faking a token is just one of them.
However, with so many new advancements on Shiba Inu’s roadmap, attackers appear to be exploiting and faking multiple aspects of the project. This is why the team issued an official warning:
$Treat has not been launched yet!!!
Beware of scammers pretending otherwise.
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) September 12, 2023
There have been many attempts at imitating the Shiba Inu. Last month, when the team launched Shibarium, a layer-two network that had previously been one of the most eagerly anticipated launches in the community, things really got out of hand. The Shiba Inu team reported at that time:
Regrettably, this also offers a path for bad actors to create fake dApps and tokens that are used for rug-pulling, among other things. […] Research their Telegram and Discord channels, community culture, social media posts, and Etherscan.