Shiba Inu Identifies A Potential Scam Token That Could Mislead Investors

Shiba Inu scam tracking platform said the SHIB development team did not create the UnleashClub token (UNLEASH).

Shibarmy Scam Alerts (@susbarium) has revealed a potential scam token claiming to be affiliated with the Shiba Inu ecosystem. In a tweet today, Susbarium noted that Shiba Inu has no link with UnleashClub (UNLEASH).

🚨SHIBARMY WARNING:🚨

We have not created the token UNLEASH(UnleashClub) <= It was created by (Shiba Inu: Deployer 1 0xA221af4a429b734Abb1CC53Fbd0c1D0Fa47e1494) which has nothing to do with our SHIBA INU DEV TEAM

Keep safe.. pic.twitter.com/tMbjlRofHV

— Shibarmy Scam Alerts (@susbarium) July 17, 2023

According to the announcement, the handler behind Susbarium asserted that the token was created by Shiba Inu: Deployer1. However, Susbarium clarified that the Shiba Inu development team has no relationship with UNLEASH. Furthermore, Susbarium warned Shiba Inu community members to stay safe. 

UNLEASH Not Affiliated With Shiba Inu

It is worth noting that UNLEASH has been in existence for months. The token received a widespread promotion in June. Per a June tweet, investors were urged to purchase UNLEAH on Uniswap.

Shiba Inu Deployer 1 has launched a new token called #UNLEASH you can buy it on uniswap. https://t.co/B3rMaR0kNe

— Bitcoin Trading Club (@BTClubz) June 17, 2023

The team behind the token claims on its website that it “dive[s] into the wild world of crypto with the power of memes and AI Wizardry.” 

Meanwhile, the token did not claim to be affiliated with Shiba Inu or its Layer-2 scaling solution Shibarium. 

Reason Behind the Alert

However, Susbarium believed it was necessary to disassociate the Shiba Inu dev team from the token. Notably, some investors may purchase UNLEASH because Shiba Inu: Deployer1 created it. This could make unsuspecting SHIB enthusiasts believe the Shiba Inu dev team created the token. 

Additionally, some community members could be misled into thinking that UNLEASH is the same as Doge Killer (LEASH), one of the Shiba Inu ecosystem tokens. 

It bears mentioning that the official Shiba Inu team has unveiled four tokens- SHIB, BONE, LEASH, and TREAT. However, TREAT remains unreleased. As reported earlier, Shiba Inu’s lead developer shed light on the functions of these tokens and how they will be used.  

Per Kusama, SHIB will govern the Shiba Inu community, while BONE will power the community’s technology. In addition, LEASH will protect the community, and TREAT will empower the community project.