As an experienced analyst, I take the warnings issued by Shiba Inu’s lead developer, DaVinci, very seriously. Scams and fraudulent activities are all too common in the crypto world, and it’s essential for investors and community members to remain vigilant.
The primary developer behind Shiba Inu‘s canine-inspired meme token has sounded the alarm for the SHIB community regarding a fraudulent scheme targeting their native token called TREAT.
Scam Attackers Launch Fake TREAT Token
On June 2nd, an individual going by the name ‘Digarch’ within the Shiba Inu community posted a screenshot on X (previously known as Twitter) of a fraud notice put out by Shiba Inu’s chief developer, DaVinci. Accompanying this notification, Digarch issued a strong caution to the SHIB Army, advising them to practice heightened vigilance during these turbulent times.
As a crypto investor closely following the Shiba Inu ecosystem, I’ve come across a screenshot shared by Digarch that caught my attention. The snapshot originated from the official Discord account of SHIB, a platform where we frequently receive updates and engage in daily discussions about the Shiba Inu project. In a message to the community, DaVinci expressed grave concerns regarding the listing and distribution of fraudulent tokens. These tokens falsely claim affiliation with the SHIB team, developers, and the upcoming Shibarium project. It’s crucial for us as investors to remain vigilant and ensure we only invest in legitimate projects associated with SHIB.
DaVinci’s revelation exposed the fact that individuals deceitfully created a counterfeit TREAT token, giving the false impression of being connected to the SHIB community. These fraudulent tokens have been listed on prominent crypto platforms like CoinMarketCap and exchanges such as CoinGecko.
As a diligent analyst, I would like to share some important information with you all. The Shiba Inu development team has issued a warning to the community regarding fraudulent activities. They strongly recommend that SHIB investors and engagers exercise caution and carry out comprehensive research before making any investment decisions or engaging in any tokens.
As an analyst, I’ve noticed a concerning trend among scammers. They’ve begun incorporating the legitimate SHIB website address, shib.io, into their fraudulent promotional materials. By doing so, they aim to add legitimacy to their false claims and illegal schemes. This tactic is disturbing as it misleads unsuspecting victims into believing they are interacting with official channels.
As a diligent analyst, I’ve closely followed DaVinci’s announcement regarding SHIB‘s native token, TREAT. However, it’s essential to clarify that this token has not been launched yet. Consequently, any tokens purporting to be Treat or linked to it should be viewed with extreme caution. These tokens are most likely fraudulent attempts to exploit and mislead the SHIB community. Interacting with such tokens could lead to significant financial losses since they lack any legitimate connection to the Shiba Inu ecosystem and carry no inherent value or strong backing from a substantial community.
The Shiba Inu development team has acknowledged that, due to ShibaSwap’s decentralized structure, it’s impossible to impose bans on the fraudulent TREAT token. However, to safeguard the SHIB community, the team remains firm in condemning these deceitful actors and their scamming behaviors.
About tHE Shiba Inu Real TREAT Token
In the Shiba Inu ecosystem, the authentic TREAT token plays a role as a utility token alongside SHIB, LEASH, SHI, and BONE. Each token serves unique purposes within the Shiba Inu ecosystem and Shibarium network. Notably, TREAT was engineered to bolster liquidity for the SHI stablecoin and function as a reward token akin to BONE in the crypto exchange ShibaSwap.
Based on information from SHIB‘s primary marketing figure, Lucie, the TREAT token remains under development and has not been unveiled to the public as of now. Contrary to speculation that the SHIB token emerged in 2023, Lucie has corrected this misunderstanding in a past Reddit post, stating explicitly that the TREAT token is yet to be presented.
“Regarding TreatsforShib, or $TREAT from SHIB.IO, a clarification is necessary. Contrary to some reports suggesting its release in 2023, it has not been launched as of now. I’ve noticed some misunderstanding among journalists on this matter.”
The Shiba Inu marketing team representative has encouraged community participants to remain vigilant and double-check any information they come across with the Shibaswap website or the Shiba Inu Discord channel.
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2024-06-06 03:11