The Shiba Inu crypto meme research team has issued a public warning of ongoing online scams aimed primarily at altcoin investors interested in SHIB.

In tweets The fraud warning released yesterday describes various methods used to deceive gullible victims from the Shiba Inu community.

“A fake Shiba group on the Telegram channel is being shared all over social media. Scammers impersonate official accounts and create fake users. They respond to all generic posts. “

While Shiba Inu has created a number of aspiring crypto millionaires and billionaires, the bad guys have stepped up their efforts and are targeting ruthless investors on social media platforms like Twitter and Telegram. Some common ways to contact victims are by providing official accounts and using hashtags that start with #shib #shibarmy #leash #shibaswap and #bone.

Additionally, Shiba Inu’s fraud warning emphasizes that the community does not offer any form of advertising, including airdrops, bonuses, or gifts. As a general rule, investors should refrain from sharing wallet keys, login information, or joining and tracking bogus social media accounts.

Inspired by the success of Shiba Inu, countless dog-themed tokens began to flood the crypto market. Most recently, SHIB hit an all-time high of $ 0.000086 on October 28, but has struggled not to slide too far.

4-Hour SHIB Price Chart | Source: Tradingview

The Shiba Inu development team has also released another token called Doge Killer (LEASH), which recently rose 130.3%.

In addition to mainstream market acceptance, a growing community of investors has brought SHIB to some of the most popular exchanges such as Binance.US and Crypto.com.

The hype surrounding the Dogecoin spin-off is attributed to the extended bull market period, which offers a high return on investment. As Bitcoin magazine Reportedly, a $ 8,000 investment made by a 35-year-old supermarket warehouse manager in early 2021 is now worth more than $ 1 million.

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