Shiba Inu Team Warns Investors of Ongoing Scam on Telegram, Posts Warning Video


The official Twitter account of the Shiba Inu token has alerted SHIB investors to a scam that is doing the rounds on the instant messaging app Telegram. Cybercriminals are responding to general SHIB-related posts impersonating official accounts related to the meme-based doggy coin. To lure unsuspecting people, these scammers are collecting posts about SHIB giveaways and bonus tokens along with other tips. SHIB investors have been advised to refrain from sharing wallet keys with any stranger.

In a 50-second video tweeted to his two million followers, Shiv The team addressed this ongoing scam. “A fake Shiba Telegram group is being shared on social media. They target your hashtags: #shib, #shibarmy, #leash, #shibaswap, #bone,” the team said. It further noted that there are no major events planned for SHIB anytime soon and there are no token airdrops or gift-giving plans.

“Do not provide email addresses or passwords. Do not get involved in these scams Wire Group, don’t send any tokens to these scammers. Do not respond to bots or fake accounts on social media. Block, report and be alert,” the video added.

Reacting to the warning video, Twitter users commended the SHIB team for actively addressing the issue and warning Dogecoin supporters.

It is not yet clear whether anyone has suffered financial loss due to this scam.

Launched in August 2020, the Shiba Inu token was created by an anonymous person with the pseudonym Ryoshi. modeling after dogecoinThe mascot of the SHIB token is a cartoon form of a dog belonging to the Japanese breed of Shiba Inu.

In recent days, the SHIB token gained popularity after registering a 50 percent spike and became the 11th largest cryptocurrency coin by market cap on October 25, according to WatcherGuru. informed of,

According to Gadgets 360, each Shiba Inu token is currently trading at $0.003279 (approximately Rs.0.000044). price tracker,

US-based movie theater chain AMC Theater Also considering acceptance of Shiba Inu tokens payment options,

Meanwhile, crypto-related scams are gaining momentum in many parts of the world, including the US.

The Federal Bureau of Investigation (FBI) said that scam Innocent people are using physical cryptocurrency ATMs and digital QR codes to complete malicious transactions.

The total crypto crimes in 2020 were approximately $10.52 billion (approximately Rs 79,194 crore), a report good It was revealed earlier in April.

The same report also highlighted that scams and frauds are a major problem affecting the crypto space which accounts for 67.8% of total cryptocurrency crimes in 2020.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain of classGadgets 360 Podcast. available on orbital Apple Podcasts, google podcasts, Spotify, amazon music And wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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