Shiba Inu Bigwig Drops Bombshell Scam Warning—Here’s What You’re Not Being Told

Another day, another crypto cautionary tale—this time straight from the SHIB inner circle. The anonymous lead developer (or ’Shytoshi Kusama’, if you enjoy Kabuki theater) just fired a flare over rising scam tactics targeting the meme coin’s army.

Key red flags: Fake ’token migration’ portals, phishing emails posing as ShibaSwap upgrades, and—classic move—Twitter impersonators offering ’double your SHIB’ deals. Because nothing screams legitimacy like unsolicited get-rich-quick DMs.

Pro tip: Bookmark the real Shibarium site. And maybe reconsider that 2% ’guaranteed daily return’ offer from ’ShibaElonMusk69’—unless you enjoy funding Lambos for strangers.

Another Alert

Unfortunately, scams are a persistent part of the crypto space – just like in any rapidly growing financial or technological innovation. Wrongdoers use sophisticated techniques to deceive inexperienced victims and embezzle their funds.

Earlier this week, LUCIE – the pseudonymous marketing strategist behind Shibarium – opened up about a distressing encounter with fraudsters years ago. In a post on X, they admitted being “still haunted by the day” bad actors drained their wallet. The experience left a DEEP emotional scar and was soon followed by yet another attack.

LUCIE said the scammer was “so kind, so sympathetic” and also an English native speaker. These are things that might initially not flash the red flag and cause some investors to fall into the trap. Subsequently, Shibarium’s marketing strategist warned people to be careful and stay safe. 

It is worth mentioning that fraudsters often target the shiba inu community. Over the last few years, the meme coin has evolved into a complex ecosystem, whereas the number of investors, developers, and proponents is now in the millions. 

The growing community and the fact that some newcomers might have little-to-no experience could be among the reasons why scammers have shifted their focus on that front. 

Not long ago, one SHIB-related X account alerted people that wrongdoers had created fake profiles on the social media platform to deceive with “promises of giveaways, exclusive content, or investment opportunities.” LUCIE was among the targets, and the hackers replicated their personal account.

Binance Users Should Keep Their Guard up

The users of the world’s largest digital asset exchange also comprise a substantial portion of the global cryptocurrency community. Approximately a week ago, the company sounded the alarm about phishing scammers who present themselves as Binance staff on Telegram and other platforms. 

The team advised its customers to pay attention to suspicious messages and to always double-check information before clicking on unknown links. Binance’s CEO Richard Teng shared the warning, emphasizing that people’s vigilance is of utmost importance:

“We’re here 24/7, but your vigilance is the first line of defense.”