The Shiba Inu (SHIB) Team Sounds the Alarm for This Fraudulent Scheme

TL;DR

• Scammers are exploiting excitement around Shiba Inu’s TREAT token launch, scheduled for January 14, 2025.
• Fraudsters also target the SHIB community with fake giveaways, phishing emails, and forged social media accounts. Users should protect their information and report suspicious activities.

‘Stay Safe, SHIBARMY!’

Wrongdoers often target the vast Shiba Inu (SHIB) community, which consists of millions of investors, proponents, and developers. They use different methods to embezzle unsuspecting victims, often conning them with fake offers about assets part of the meme coin’s ecosystem.

The most recent scheme includes TREAT, a reward token that provides incentives for users engaging with Shiba Inu’s protocols, including the layer-2 scaling solution Shibarium. The team recently announced that its official launch will be on January 14.

While the development sparked huge enthusiasm across the community, Shibarium Trustwatch (an X account that aims to provide security) warned users to remain extra careful until that date. 

The team claimed that scammers have used the ongoing excitement as an opportunity to offer fake TREAT services to people, alerting users to stay away from such dubious individuals. 

“They are now using SHIB socials linked to their FAKE TREAT. Please don’t be misled by these predatory scammers. They can be called vultures, circling and looking for their next feed. We ask with heaven on our side, please do not fall for these scams.

Be clear: the TREAT launch is scheduled for the 14th of January 2025, not before. If you are unsure about anything at any time, check with us first. Stay safe, SHIBARMY,” the warning reads.

Previous Alerts

Around Christmas, Shibarium Trustwatch warned people to stay vigilant for several common crypto scams that may result in crucial losses. Some examples are fake giveaways, which offer “free” tokens, merchandise, or NFTs, and phishing emails.

The team claimed fraudsters send emails to victims, pretending to be from official SHIB-related projects, thus trying to steal their login credentials. 

Other things the community should watch out for include fake social media accounts, Ponzi schemes, forgery charity appeals, and more.

“Providing personal information or falling for these scams doesn’t just put you at risk – it may lead to your data being sold on the dark web, where hackers can use it for identity theft or other malicious activities. Scammers exploit trust, kindness, and generosity, especially during the holiday season, so we must stay vigilant,” the team said at the time.