The Shiba Inu (SHIB) team sounds the alarm about this fraudulent scheme

TL;DR

Scammers are taking advantage of the excitement over the release of Shiba Inu’s TREAT token, scheduled for January 14, 2025. Scammers are also targeting the SHIB community with fake giveaways, phishing emails, and fake social media accounts. Users should protect their information and report suspicious activity. “Stay safe, SHIBARMY!”

Criminals often target the vast Shiba Inu (SHIB) community, which consists of millions of investors, advocates and developers. They use different methods to defraud unsuspecting victims, often tricking them with fake offers on assets that are part of the meme currency ecosystem.

The newest scheme includes TREAT, a reward token that provides incentives to users who commit to Shiba Inu protocols, including the Shibarium layer 2 scaling solution. The team recently announced that its official release will be on January 14th.

Although the development generated a lot of excitement throughout the community, Shibarium Trustwatch (an X account that aims to provide security) warned users to be very careful until this date.

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

“They are now using SHIB social media linked to their FAKE TREAT. Please don’t be fooled by these predatory scammers. They can be called vultures, circling and looking for their next meal. We pray with heaven on our side , please don’t fall for these scams.

Be clear: TREAT is scheduled for release on January 14, 2025, not earlier. If you are unsure about anything at any time, please consult us first. Stay safe, SHIBARMY,” the warning reads.

Prior alerts

Around Christmas, Shibarium Trustwatch warned people to stay alert to several common crypto scams that can lead to crucial losses. Examples are fake giveaways, offering “free” tokens, merchandise or NFTs, and phishing emails.

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

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

“Providing personal information or falling for these scams not only puts you at risk, but can 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 remain vigilant,” the team said at the time.

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