Shiba Inu team issues scam alert to its investors

Meme cryptocurrency Shiba Inu (SHIB) along with their team has issued a public warning against online ongoing scams that mainly target the investors of Altcoin interested in SHIB tokens.

The proactive scam alert came through a tweet listing many methods used to dupe unsuspecting victims from the Shiba Inu community.

The warning further stated, “A fake Shiba Telegram group is being shared across all social media. The scammers impersonate official accounts and create fake users. These scammers reply to general posts.”

Aspiring crypto millionaires and billionaires are attracted by Shiba Inu, while, bad actors have ramped up efforts, targeting unwary investors on social media platforms such as Twitter and Telegram. Few common ways used to contact potential victims includes impersonating official accounts and targetting hashtags such as #shib #shibarmy #leash #shibaswap and #bone.

Moreover, the scam alert of Shiba Inu spotted that the community is not offering any kind of promotions including airdrops, bonuses, giveaways or gifts. Investors are expected to refrain from sharing wallet keys, credentials or joining and following fake social media accounts as a general rule.

Taking inspiration from the success of Shiba Inu, various dog-themed tokens have initiated to flood the marketplace of crypto. Most recently, SHIB hit an all-time high of $0.000086 on Oct. 28 but has been struggling to keep up its value.

The development team of Shiba Inu has also developed and released another token called Doge Killer (LEASH), which has also seen 130.3% increment recently.

In addition to the mainstream adoption of the token, a growing community of investors has placed SHIB in some of the most popular crypto exchanges including Binance.US and

The hype going on around the Dogecoin (DOGE) spinoff is attributed to an extended bull market time period that returned high profits for small-time investments. As Cointelegraph reported, an $8,000 investment made by a 35-year-old supermarket warehouse manager in early 2021 is now worth over $1 million.

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