- Shiba Inu ecosystem token $TREAT is the new basis for community exploit.
- The Shiba Inu team doubled down on scam awareness.
The official marketing expert of the SHIB developer team, known as Lucie Shibarium, has issued an urgent warning to the Shiba Inu community concerning a new scam that has surfaced, targeting the highly anticipated Shiba Inu ecosystem token, $TREAT.
This warning comes in response to an alarming increase in the number of scammers attempting to deceive unsuspecting investors by spreading false information and offering fake TREAT tokens, ultimately stealing funds from SHIB holders.
The SHIB Teams’ Warning on TREAT
Taking to the popular social media platform X, Lucie sounded the alarm regarding the growing threat posed by these fraudulent activities. In her message to the Shiba Inu community, she emphatically stated, “Just a friendly reminder that Shiba Ecosystem token $TREAT has NOT been launched yet! Please be aware of anyone claiming otherwise, as they are spreading false information.”
Lucie’s post serves as an important reminder for SHIB holders to be cautious and skeptical of any information regarding the TREAT token’s release. Scammers frequently prey on the excitement and anticipation of the community, making it critical for members to verify facts before acting.
Lucie’s warning was further reinforced by Vet Kusama, another member of the SHIB team, who reposted her message on his personal X page. His tweet reiterated the importance of the warning:
“Please take this announcement into consideration!” Vet Kusama’s support of Lucie’s message emphasizes the seriousness of the issue and the shared commitment of the SHIB team to protect its community from potential scams.
It is worth noting that this is not the first time that the Shiba Inu community has faced such scams. Lucie previously issued a similar warning in early September when a wave of scammers attempted to distribute a fake TREAT token to the SHIB community.
These individuals claimed that the Shiba Inu ecosystem reward token had been officially released and provided users with a fraudulent TREAT contract address. In this deceitful act, they managed to steal funds from some SHIB holders who connected their wallets and engaged with the fake token.
Shiba Inu Burn Rate Increases
Meanwhile, Shiba Inu is making headlines once again as its total circulating supply keeps seeing a significant reduction. A recent report reveals an impressive 92% surge in the burning rate within 24 hours, with more than 46 million SHIB tokens sent to an inaccessible address. This burning mechanism is part of Shiba Inu’s strategy to increase scarcity and potential value over time.
This week, Shiba Inu celebrated a significant milestone with its layer-2 scaling solution, Shibarium, reaching one million blocks. The network’s progress has been remarkable, attracting over 1.25 million wallet addresses in less than two months since its launch.
Furthermore, Shiba Inu’s lead developer, Shytoshi Kusama, has hinted at some exciting future plans for Shibarium, the Ethereum-based layer-2 scaling solution. With the recent increase in validator’s rewards on the platform, the L2 protocol is looking to change the method of onboarding these important network participants.
