Shiba Inu issues scam warning

The Shiba Inu (SHIB) development team has warned investors that crypto scammers are targeting users of the altcoin with various incentives to risk their investments.

The team released a minute-long video in which it detailed the most common methods fraudsters are using to get hold of investors’ money, usually promising eye-watering returns.

The highlight of the post is a fake Shiba Telegram group that has been posing as the team and trying to galvanize gullible consumers into risky action.

“A fake Shiba Telegram group is being shared across all social media. The scammers impersonate official accounts and create fake users. These scammers reply to general posts”, SHIB’s team explained.

Social media has been buzzing with various dubious projects alleging affiliation with the SHIB team but most have been dismissed. However, unwary and heady investors may be caught off-guard if they are new to the space and generally unacquainted with how such operations work.

Since October, SHIB has continued growing as more platforms are potentially exploring a listing.

That is why the SHIB team has been beefing up its efforts to clamp down on projects by calling them out. Making sure that investors are familiar with SHIB and what constitutes genuine investment opportunities is even more important now that the token is being listed on popular exchanges such as Binance.US and Crypto.com.

Whether SHIB can maintain its strong price and popularity is another matter altogether. Most observers chalk up its success to an extended bull run that has impacted the crypto market by a whole lot.

If you want to stay safe, it’s best to always play at respected websites, such as 1xBit, FortuneJack and Bitcasino.io.

Source

Updated: 11/23/2021 — 15:00