Shiba Inu’s lead developer warns of fake tokens designed to mimic the SHIB ecosystem

Shiba Inu's lead developer warns of fake tokens designed to mimic the SHIB ecosystem

TREAT and SHI have not yet formally launched, but scammers based on the false impression to the contrary are emerging. Their goal is to lure the Shiba Inu community into a trap. Don’t get caught!

Beware of fake versions of TREAT and SHI

Recently, the community has been paying attention to a number of projects that are allegedly linked to the Shiba Inu team and its cryptocurrency ecosystem. Unfortunately, these are scams, which has forced the project’s lead developer, Shytoshi Kusama, to issue a significant warning. Kusama made it clear that any new token claiming to have a connection to the Shiba Inu team is fake, and the TREAT and SHI tokens have still not been officially released.

The warning was shared by Kusama on the community-supported Shibarium Telegram group. Project leader Shiba Inu advises investors to always check each project carefully before making any purchase.

It is worth noting that TREAT and SHI are new creations to be released soon by the Shiba Inu developers. They will become part of the ecosystem, alongside such assets as just Shiba Inu (SHIB), LEASH and BONE. Thus, the dog coin’s area of operation will close in as many as five independent yet cooperating assets.

The SHIB family is growing

Kusama introduced TREAT and SHI in one of his blog posts last year. With that, he explained that TREAT will serve as a reward token, while BONE will serve as a gas token for Shibarium. SHI, on the other hand, will become the stablecoin for the entire ecosystem.

Unfortunately, neither TREAT nor SHI have yet been released, but the market has already managed to see many copies of these ideas, and thus attempts at fraud and scams. Reacting to this, Kusama confirmed in February that TREAT will not be released simultaneously with mainnet Shibarium. In other words, any token that claims to be related to the Shiba Inu ecosystem, but has not been officially announced by the team, is fake.

The Shiba Inu community decides to take care of itself

Ragnar Shib, a pseudonymous community member and administrator of the Shibarium group, addressed the above issues in yesterday’s post and reminded the SHIB community to be careful about what it invests in. 

In light of the numerous scams and fraud schemes in the cryptocurrency market, Shiba Inu investors are advised to exercise caution and conduct due diligence before committing funds to any project. It is worth remembering that not everyone who claims to be affiliated with the Shiba Inu team actually belongs to it.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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