The popularity of cryptocurrency and digital assets continue to increase year after year and with the growth in popularity naturally we are seeing more and more scams associated with cryptocurrency tokens and wallets, putting users at detrimental financial risk.
ARE THERE SHIBA INU SCAMS?
Shiba Inu has been a popular digital coin over the last year and with more popularity comes increased numbers of scammers. This is why Shiba Inu developers were adamant about warning investors about the malicious scams and fraud to be wary of. Develops warn investors that there are no officially Shiba Inu “giveaways”, gifts or airdrops.
Developers of the popular meme coin realized it was necessary to put out a statement via twitter, warning investors of a current scam trying to spoof the Shiba Inu: Deployer. While the transaction may look real, the scam will coerce unsuspecting investors and strip them of their tokens. The bad actors use sophisticated programming skills to write and design code to emit malicious events. Shiba Inu teams emphasizes that it’s important to follow official project channels for announcements to avoid falling victim to fraud.
HOW TO AVOID CRYPTO SCAMS?
While many new projects are emerging from Shiba Inu, it can create confusion for investors if they do not remain familiar and up to date with Shiba’s legitimate projects and developments. Some current projects and developments in the works include Shibarium, PlaySide Games, and a Play-to-earn blockchain game. Developers encourage investors to follow along their primary social media platform and trustworthy sources for legitimate Shiba Inu Projects.