Prominent Shiba Inu (SHIB) Kaal Dhairya, one of its developers, warned of scammers trying to impersonate SHIB in a recent blog post.
Shiba Inu Developer Warns Investors of New Scam Method
Dhairya said he has detected a maliciously crafted contract that hides the real sender and recipient information.
Thanks to this contract, the scammers were able to establish non-existent relationships between the Shiba Inu token and well-known wallets.
According to the developer’s statement, this contract scam could be used for marketing or to defraud potential victims.
Scammers often use the ERC20 authentication function to steal victims’ money with the help of fake tokens.
“SHIB Community Must Follow Official Announcements”
In the blog post in question, Dhairya urged Shiba Inu users to follow the official announcements to avoid falling victim to these scams.
With SHIB’s popularity skyrocketing over the past year, many scammers tried to capitalize on this popularity.
Last November, too SHIB Its developers had reported that investors are increasingly being targeted by scammers.
The SHIB developer team has stated that they do not organize any raffles, giveaways or airdrop events in any way. Promising such events is one of the main activities of scam projects.
In February, blockchain security firm PeckShield uncovered a fake token claiming to be the SHIB token on the Tron Blockchain. The fake token was determined to be a honeypot scam. In Honeypot scams, investors cannot sell the tokens they bought.
*Not investment advice.