- Crypto.Com’s beginner guide on SHIB was published last Saturday.
- Shibarium’s security service, Susbarium, detected a critical mistake.
- The SHIB lead developer explains when to expect the genuine TREAT launch.
Shiba Inu’s (SHIB) executive team sounded the alarm about a misleading message from Crypto.com’s social media channels. Last Saturday, Crypto.com introduced their X audience to a freshly-penned comprehensive guide about the Shiba Inu Ecosystem. Initially praised as a “fantastic beginner’s guide” by SHIB’s team, the guide wasn’t spared controversy.
What Went Wrong with Crypto.com’s Guide to SHIB?
Published as a part of Crypto.com’s University educational initiative, the initial version of this beginner-oriented long read had a couple of major discrepancies.
Due to a misconception that the TREAT token has already launched, Crypto.com’s staff shared a different link to the TREAT token, redirecting unsuspecting users to a copycat site. The site uses a different smart contract address and has no affiliation with Shibarium or SHIB Token.
Sponsored
Shortly after the publication went live, the Shiba Inu community’s specialized suspicious activity tracker, Susbarium, identified the incorrect linking and contacted the responsible staff to rectify the issue.
Susbarium strongly recommended using only trusted and verifiable sources of information, as counterfeit links often lead to phishing scams. Besides wrongly identifying the $TREAT token on X, several crypto influencers shared incorrect information with Shibarium-related tags before Crypto.com corrected it.
SHIB Lead Dev Unimpressed by Crypto.Com’s Error
Correspondingly, Shiba Inu’s mysterious leading developer, Shytoshi Kusama, called to express his regret for the misconception. “Sadly @cryptocom wrote about our TREAT token that is not yet launched, assuming incorrectly that it was,” remarked Kusama.
Shiba Inu’s TREAT is a yet-to-be-released crypto token tied to Shiba Inu’s upcoming Layer-3 chain. In the new blockchain, TREAT will serve as the utility, governance, and community reward token. In April 2024, Shiba Inu raised $12 million in a funding round for the Fully Homomorphic Encryption (FHE) powered Layer-3 chain. Currently, the TREAT token has an official X handle @TreatsForSHIB, which is followed by 11.7K crypto aficionados.
According to previous statements by SHIB’s lead dev, Shytoshi Kusama, the TREAT token will be launched by the end of 2024. This would further expand the Shiba Inu Ecosystem, represented by SHIB as the flagship currency, while Bone ShibaSwap (BONE) remains a gas fee token for Shibarium L2.
Shiba Inu’s stablecoin SHI is still in the making, while most major centralized exchanges are expected to receive Shiba Inu’s TREAT ahead of Shiba Inu’s Layer-3 official launch.
On the Flipside
- Social media has been abuzz with attempts to imitate Shiba Inu’s TREAT token since early 2023, when the coin was announced to be in the works.
- Shytoshi Kusama accidentally followed one of the copycats who later used the influence to spread fake smart contract addresses with SHI stablecoin & TREAT.
Why This Matters
Phishing scams became the go-to for cybercriminals, luring investors with similar or identical imagery to known brands or crypto-related products.
Discover DailyCoin’s trending crypto news:
Memecoin Mania Ensues on Biden’s Shock Election Exit
Ether ETFs Approved for Trading! Here’s How Experts See Them Performing
