Holiday Warning for the Shiba Inu (SHIB) Community: Users Should Stay Vigilant for These Scams

TL;DR

• Shibarium Trustwatch warns SHIB holders of fake giveaways, phishing emails, and scam social accounts during the holidays.
• Users are cautioned to avoid sending emails about SHIFU tokens and urged to verify information through official channels.

‘Protect Yourself This Christmas’

Despite the festive season, scammers don’t have days off and are always on the lookout for new victims. One particular group in the cryptocurrency sector, which bad actors attack quite regularly, is the Shiba Inu (SHIB) community.

A few days ago, Shibarium Trustwatch (an X account that aims to provide security) alerted users to be extra cautious with several common crypto scams. The first is giveaways, which offer “free” tokens, merchandise, or NFTs. “Remember, free stuff is never truly free – providing personal information puts you at risk,” the team warned. 

Second, the community should stay vigilant for phishing emails. Fraudsters often send emails to victims, claiming to be from official SHIB-related projects, thus trying to steal their login credentials. 

Next on the list are social media accounts. The team cautioned that scammers create fake profiles on social media platforms pretending to be influencers, developers, or official accounts that offer tempting deals. “Verify handles and avoid DMs offering quick profits,” Shibarium Trustwatch warned. 

Ponzi schemes, fake charity appeals, fake customer support, and malicious links are the other things the SHIB community should be careful about. 

“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.

Let’s keep the Shibarmy strong and safe this holiday season. Be cautious, protect your crypto, and share love responsibly. Nothing in life is free. Even the things that seem free often come with hidden costs or risks,” the team concluded.

The SHIFU Warning

Earlier this month, Shibarium Trustwatch issued an alert concerning the meme coin SHIFU. The team claimed that bad actors request victims to send them an email containing information about the token:

“Fraudsters are asking people to send them an email asking how to buy and claim SHIFU or if SHIFU has not appeared in their wallet.”

Shibarium Trustwatch advised users to stay away from that scheme and not send emails to anyone. Verifying information through official channels and avoiding sharing personal data is also necessary. 

SHIFU is a dog-themed meme coin within the Shiba Inu ecosystem, which was introduced by Shytoshi Kusama at the beginning of the month. While it can be found on certain decentralized exchanges, leading crypto platforms like Binance have not yet embraced it. 

A few weeks ago, the meme coin project launched a special airdrop. The team announced that 30% of the total SHIFU supply (30 billion tokens) will be allocated to the community. Of this, 22 billion SHIFU will go to holders with at least 100,000 SHIB and 100 BUBBLE. An additional 2 billion tokens are set aside for eligible LEASH holders, while BONE owners will receive 1 billion tokens.

The remaining 70% of the supply will be reserved for other purposes, including “liquidity and public pre-sale,” treasury funds, and marketing efforts.