As a seasoned researcher who has navigated the tumultuous waters of the cryptocurrency market for years, I can’t help but feel a mix of concern and anticipation as I read this update on Shiba Inu’s latest developments. The rise of impersonators preying on unsuspecting community members is an all-too-familiar story in the crypto space, but it’s disheartening to see it happening within the Shiba Inu community.
More recently, Shibarmy Scam Alerts – an account dedicated to the Shiba Inu community – has issued a cautionary statement about an increasing number of individuals pretending to be Shytoshi Kusama, the main developer of the Shiba Inu project.
On Twitter, Shibarmy Scam Alerts advises the Shiba Inu community (or “Shib Army”) to stay vigilant as there are individuals pretending to be Shiba Inu’s main figure, Shytoshi Kusama, across various platforms.
In reaction to an increase in fraudulent behaviors, there’s a notice issued. This stems from people falsely claiming to be Shytoshi Kusama on multiple platforms with the aim of deceiving and swindling innocent community participants. These pretenders typically create false profiles or accounts to build trust before asking for confidential details or money.
In the realm of cryptocurrencies, impersonation isn’t a novel concept, but it’s evolving with the rise in popularity of projects such as Shiba Inu. Deceitful individuals often fabricate profiles, mimic communication styles, and even employ bots to amplify their influence, underscoring the need for users to discern between authentic and fraudulent personas.
The recent alert from Shibarmy Scam Alerts emphasizes the importance of vigilance within the crypto community to avoid falling victim to scams and misinformation.
Shibarium burns update
As a crypto investor, I’m excited to share that recently, a team member from Shiba Inu announced an important update about Shibarium. Starting at block 6206570, the Shibarium network will introduce a long-anticipated feature: a burn mechanism directly tied to transaction fees. This means that with each transaction, some SHIB tokens will be automatically removed from circulation, potentially increasing the token’s value over time.
Through this update, approximately 70% of the transaction fees across the network will be transformed into SHIB tokens and destroyed, reducing their availability in the market. This deflationary approach intends to progressively decrease the total number of SHIB in circulation, which could lead to an increase in its worth over time.
Hereafter, 30% of the residual fees are allocated for upkeep, advancement, and expansion within our platform, as well as the growth of the Shiba Inu ecosystem. This transformation marks a significant stride towards enhancing the Shiba Inu community’s sustainability and increasing its long-term worth.
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2024-08-09 14:14