Shiba Inu Community Warned of Scammers and Fake Tokens

Fake accounts have emerged on Telegram, posing as members of the Shiba Inu (SHIB) meme token team, according to Shibarmy Scam Alerts.

?SHIBARMY WARNING:?

Another Fake account on Telegram

Impersonators/Scammers who often create accounts so they can provide misleading information to create doubt, misdirect you to fake websites or even obtain details about your lives, which they can then utilize maliciously… pic.twitter.com/9IdLEUW53I

— Shibarmy Scam Alerts (@susbarium) April 28, 2024

One account is impersonating the lead developer of the coin, Kaaldairya.

“Remember, no one from our team will ever contact you via direct messages or ask you to sync your wallet or provide personal information,” stated a post from Shibarmy Scam Alerts.

The community also warned about a fake TREAT token. The genuine coin has not yet been officially launched.

?SHIBARMY WARNING:?

Attention: TREAT Token Alert

Important Notice:

The TREAT token has NOT been officially released. Contrary to recent claims, there has been no official launch from the SHIB team.

Please exercise caution and refrain from engaging in any transactions or…

— Shibarmy Scam Alerts (@susbarium) April 27, 2024

Users are urged to “refrain from any transactions or investments” involving TREAT. The fake token lacks liquidity lock, allowing scammers to withdraw users’ funds at any time.

Shibarmy Scam Alerts have repeatedly reported other scammers posing as project representatives on social media. They often promote scam airdrops and fake tokens related to the meme coin ecosystem.

#Shibarmy, if you receive an email like this one, don’t fall for it, it’s NOT official, and it’s a scam!

There are no $BONE airdrops!

Delete the email message, don’t click on the link/picture! It sends the victims to a fake website intended to steal the wallets. Stay safe! pic.twitter.com/U8ezGpXrQd

— Shibarmy Scam Alerts (@susbarium) April 19, 2024

Previously, experts from Kaspersky Lab reported on a financial pyramid in Telegram based on investments in the cryptocurrency Toncoin.

In April, on-chain sleuth ZachXBT uncovered a group of scammers attempting to lure victims through the DeFi liquidity protocol Leaper Finance in the L2 network Blast.