Shiba Inu’s lead developer Shytoshi Kusama recently thwarted attempt to mislead cryptocurrency investors with false information about imminent debut of new ecosystem tokens
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The lead developer of Shiba Inu Shytoshi Kusama has been actively battling against a wave of misinformation and scams targeting the meme coin’s investors.
Recently, Kusama debunked a scam related to the release of new tokens within the Shiba Inu ecosystem, known as SHIB.
A Twitter post claimed that the new tokens, dubbed TREAT and SHI, were about to debut as part of the “Summer of Shibarium” campaign.
Kusama swiftly dismissed the information as untrue, warning the community not to fall for the blatant sham.
This incident is one among many scams in the wake of Shiba Inu’s “Summer of Shibarium” campaign, which has generated a great deal of anticipation among cryptocurrency enthusiasts.
This strategic initiative involves a series of exciting releases and will culminate with the launch of the project’s Layer 2 blockchain, Shibarium, later this August. This activity has already sparked a significant increase in market interest in SHIB and other related tokens.
Despite the legitimate excitement surrounding the “Summer of Shibarium” campaign, the Shiba Inu community has been cautioned to remain vigilant against fraudulent activities.
A series of alerts from the Shibarmy Scam Alerts Twitter account warned against fake support accounts and suspicious links being shared.
In response to frequent scams, Kusama has been a constant advocate for vigilance and investor education to prevent scams. With the “Summer of Shibarium” campaign intensifying and the launch of Shibarium nearing closer, market participants are urged to balance their excitement with caution. The cryptocurrency space, while filled with opportunities, also presents risks, making it crucial for investors to scrutinize all sources of information before acting.
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