Shiba Inu issues a critical warning to its community regarding a scam attack revolving around a fraudulent TREAT token, emphasizing the importance of vigilance and thorough research in the cryptocurrency sphere.
Unveiling the Fake TREAT Token Scam
On June 2, ‘Digarch,’ a prominent member of the Shiba Inu community, shared a scam alert issued by DaVinci, the lead developer, on social media platform X. The alert, originating from SHIB’s official Discord account, raised concerns about fraudulent tokens falsely claiming association with the SHIB ecosystem and the Shibarium project.
DaVinci urged the SHIB Army to exercise caution and diligence amidst the circulation of deceptive tokens, notably the misrepresented TREAT tokens, infiltrating major crypto platforms like CoinMarketCap and CoinGecko. These tokens exploit the official SHIB website address to lend credibility to their fraudulent schemes, deceiving unsuspecting community members.
Clarification on the Genuine TREAT Token
DaVinci emphatically clarified that the legitimate TREAT token has not been launched yet. Any tokens claiming association with TREAT are fraudulent and aim to financially harm SHIB community members. Despite the decentralized nature of ShibaSwap, the SHIB team remains committed to warning and protecting its community from such malicious activities.
The Genuine Shiba Inu TREAT Token
The legitimate TREAT token, integral to the Shiba Inu ecosystem, is currently under development and has not been released. Lucie, SHIB’s lead marketing member, debunked false reports suggesting its launch in 2023 and emphasized relying on official communication channels for accurate information.
Conclusion
Shiba Inu’s developer warning highlights the importance of vigilance and due diligence in the volatile cryptocurrency landscape. As fraudulent schemes evolve, staying informed and relying on official sources is paramount for protecting investments. The proactive approach of the SHIB team in educating and alerting its community sets a valuable precedent for navigating potential pitfalls in the crypto ecosystem.