Shiba Inu’s official channel, Shibarmy Scam Alerts, has issued a warning about an increasing number of scams targeting the altcoin community.
In a series of posts on X, the community alerted users to “fraudulent websites and individuals” attempting to exploit them. The scammers are reportedly instructing users to “‘rectify’ or ‘sync’ their wallets,” as stated in the alerts.
“These tactics are designed to steal your funds by gaining access to your wallet information.”
🚨 SHIBARMY WARNING 🚨
— Shibarmy Scam Alerts (@susbarium) August 18, 2024
Attention, #SHIBARMY! We've received reports of fake Telegram groups targeting our Shibarium communities. These groups are designed to scam you and drain your wallets by promoting fraudulent tokens or offering fake rewards.
IMPORTANT:
Always verify any… pic.twitter.com/igT27Daph4
The Shiba Inu community also emphasized the importance of being vigilant by reminding users to never share their private keys or recovery phrases with anyone. Shibarmy Scam Alerts strongly encouraged users to double-check the authenticity of websites and links before entering any sensitive information, even if the sites appear trustworthy.
“Scammers are out to take what you’ve worked so hard to build. Stay alert, protect your assets, and don’t let them win,” the community advised.
Fake Telegram Groups Prey on Shiba Inu Holders
The alert was issued just hours after Shibarmy Scam Alerts highlighted a new threat: fake Telegram groups specifically targeting the Shiba Inu community.
“These fake groups are designed to deceive you, either by promoting counterfeit tokens or by offering bogus rewards to drain your wallets,” the post explained.
The community warned users to be extremely cautious and avoid engaging with any offers that seem suspicious or ask for participation in reward schemes.
🚨SHIBARMY WARNING🚨
— Shibarmy Scam Alerts (@susbarium) August 18, 2024
Attention, #SHIBARMY!
We’ve been alerted to the presence of fraudulent websites and individuals attempting to scam people by asking them to "rectify" or "sync" their wallets. These tactics are designed to steal your funds by gaining access to your wallet… pic.twitter.com/dMnWklwXbG
Some Shiba Inu enthusiasts were recently targeted by fake airdrop offers on Telegram, leading the community to raise concerns on social media.
For instance, a fraudulent Telegram group called “K9 Finance DAO news” posed as Shiba Inu’s official liquid staking partner, promising members $2,000 worth of KNINE tokens if they participated in a bogus airdrop.
Scammers also impersonated Shiba Inu’s co-founder, Shytoshi Kusama, in an attempt to trick users into clicking harmful links.
The Shibarmy Scam Alerts group issued a strong warning: “As our Shiba community grows, it’s more important than ever to stay alert and avoid scams.”
They highlighted a recent surge in fake tokens and projects falsely claiming to be part of the Shib Ecosystem. “These ads might look legitimate, but they’re designed to trap you,” the group cautioned.
Additionally, the community stressed the need to understand the difference between Shiba Inu’s official ecosystem projects and its partnerships. Projects within the Shiba Ecosystem are directly linked to the development and vision of Shiba Inu, while partners are external entities that have formal agreements to collaborate with the Shiba community.