Crucial Ryoshi Scam Warning Issued by SHIB Team

As a seasoned researcher who has been immersed in the dynamic world of cryptocurrencies for years, I have seen my fair share of scams and fraudulent activities. However, the recent surge of scammers exploiting Ryoshi’s name within the SHIB community is particularly distressing.


As a member of the SHIB development team, going by the alias ‘Lucie’ within our community, I recently issued a vital message to our dedicated followers, the Shiba Inu Army. The purpose was to alert you all about the existence of scammers who are trying to exploit our community. Stay vigilant and beware!

These swindlers have been tricking members of the SHIB community by exploiting the mysterious identity of SHIB’s founder, Ryoshi, who went incognito about two years back.

SHIB army receives crucial warning

I recently shared a post from the Shibarmy Scam Alerts (@susbarium) account on social media X. This tweet highlighted an important concern: scammers have been exploiting Ryoshi’s name lately, aiming their schemes at the SHIB community through a new approach.

During the discussion about the SHIB project’s timeline, the @susbarium account highlighted that Ryoshi, the creator, had expressed his intention to eventually relinquish control and allow the community to manage the ecosystem independently. In May 2022, Ryoshi was last seen in public.

Currently, there’s been an alarming rise in individuals impersonating Ryoshi, using his name dishonestly to deceive and swindle community members. These fraudulent activities not only tarnish the reputation of Ryoshi Research but also present a significant risk by disseminating false information and attempting to defraud users.

@susbarium advised Shibarium users to “stay cautious, keep a close eye out, and scrutinize anything that appears questionable.” It’s crucial, the tweet emphasized, to confirm any information regarding new suspicious tokens supposedly linked to Ryoshi only through verified SHIB channels. Furthermore, users are urged to promptly report “any instances of fraud or misuse of the Ryoshi name” immediately.

Anyone talking about Ryoshi and tokens that don’t exist or weren’t mentioned in his Mediums has always been a red flag for me and immediately goes into the ‘scammer’ box in my mind.RYOSHI = SHIB = LEASH = BONE = TREATThat’s it.He’s been gone since 2021 !!!!!, and like… — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 16, 2024

Lucie concurred with the cautionary statement, noting that when she encounters references to Ryoshi and “cryptocurrencies not explicitly stated or omitted from his Medium posts,” she flags them as potential fraudsters using a warning symbol (red flag).

Lucie’s Ryoshi SHIB burn message to community

Over the weekend, Lucie posted a tweet discussing the incineration of Shiba Inu meme tokens and the benchmark established by its enigmatic creator, Ryoshi. In her post, Lucie recalled that Ryoshi had destroyed the access codes to the remaining SHIB tokens.

Developers are unable to alter the Shiba Inu coin supply since Ryoshi destroyed the keys, thus no one possesses control over it. To decrease the supply, Shiba Inu coins must be purchased and subsequently burned, which requires financial resources.— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 14, 2024

Currently, there are two primary strategies for decreasing the circulating Shiba Inu (SHIB) tokens:

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2024-09-16 12:01