- The Shiba Inu community rises against an unofficial $TREAT clone on ETH.
- Shibarium L2 lead developer shames the imitator on ๐, SHIB Army weighs in.
- Phishing is one of the most prevalent crypto schemes, doubling since 2022.
Shiba Inu lead dev Shytoshi Kusama took to ๐ (formerly Twitter) to address the massive upswing of phishing scams, most of them involving unreleased SHIB Token cryptocurrencies like $TREAT and $SHI. Several ๐ users have been tagging $SHI stablecoin and $TREAT along with other unknown cryptocurrencies, causing confusion among the SHIB Army.
Blockchain scammers share ๐ posts illicitly portraying Shiba Inuโs $TREAT surface every hour. Some of the new fraudulent posts garnered over 5,000 views, while Shibarium lead dev Shytoshi Kusama accidentally followed one of the culprit accounts on X.
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The rising $TREAT scams have been called out by several other prominent SHIB Army members, who advised the audience that both $TREAT and the stablecoin $SHI are yet to be released. To illustrate, SHIB Army member Sand accused the fake $TREAT deployers of โlots of contract red flags you can check with the various tools available like token sniffer.โ
Kusama Bites Back At TREAT Imitator
The culprit account mentions SHIB.io in its ๐ bio, pretending to be a member of the SHIB Token team. The user, who goes by the name โ 23, has 1,050 followers on X and posted the counterfeit message regarding โnew smart contract addressesโ for $TREAT & $SHI. โExiting stealth mode soon โฆ DYORโ, read the message with 6,551 views and counting.
In response, Shytoshi Kusama uttered โFake. And looks like you bought the account so it showed I followed you. Shameful. Smh. Do better.โ. Indeed, Shiba Inuโs fourth token $TREAT doesnโt have an official launch date yet, but the copycat version of $TREAT already has 1,147 holders, according to the blockchain explorer EtherScan.
On The Flipside
- A promoter on Twitter claims that Shytoshi Kusama is wrong in deeming any tokens not released by SHIB Token as scams.
- Shibarium Layer-2 allows the deployment of new tokens on the blockchain, but prohibits copyright infringement and cloning.
Why This Matters
Phishing scams that imitate a well-known brand have been a go-to tactic for cybercriminals since 2022.
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