The Shiba Inu ecosystem team has issued a new warning to the community about the rampant creation of fraudulent tokens on ShibaSwap. Scammers are launching various attacks within the Shiba Inu community to deceive unsuspecting investors.
These bad actors target SHIB holders, taking advantage of the community’s active involvement. Despite this, the Shiba Inu ecosystem team remains vigilant in exposing these scams to protect investors.
Warning: Scammers Targeting Shiba Inu Community
In a recent warning posted on Discord by DaVinci, concerns were raised about deceptive individuals launching fraudulent tokens falsely claiming affiliation with the official Shiba Inu ecosystem team.
Source: X
This cautionary message was echoed by prominent Shiba Inu community member Digarch on X yesterday. The Shiba Inu Discord admin highlighted that these malicious actors have shifted tactics, no longer using typical Ryoshi Research channels to lend false credibility to their illicit projects. Instead, they are now exploiting the Shiba State and the Canine code in new strategies.
DaVinci further emphasized that scammers are embedding shib.io, the official Shiba Inu ecosystem website link, into their videos to create an illusion of legitimacy for their hoax projects.
The Discord admin strongly urged community members to exercise caution and conduct thorough research before investing in any token. DaVinci specifically clarified that the official team has not launched the TREAT token yet, cautioning that any project claiming affiliation is likely part of a scheme to defraud unsuspecting investors.
Shiba Inu’s Stance on Illicit Tokens and Celebrity-Led Projects
According to DaVinci, the official Shiba Inu ecosystem team would ideally ban illicit tokens deployed on Shiba Inu’s decentralized exchange (DEX), ShibaSwap. However, he acknowledged the decentralized nature of ShibaSwap prevents any central authority from enforcing such bans.
Despite this limitation, DaVinci assured the community that the team remains committed to condemning unethical practices used by scammers.
DaVinci’s warning follows recent advice from Shiba Inu’s marketing lead, Lucie, who cautioned SHIB holders against involvement in celebrity-led meme coin projects. Lucie highlighted instances involving high-profile celebrities like Caitlyn Jenner and Nigerian artist Davido, whose association with rugpull meme coins has resulted in losses for investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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