Last updated on May 18th, 2024 at 11:52 am
The Shiba Inu community has been issued an urgent warning, drawing their attention to a scam targeting unsuspecting SHIB investors. The steady growth of Shiba Inu has not only been exciting for investors, but it has also attracted a growing number of scammers disguising themselves as related projects.
As a result, Susbarium, a Shiba Inu-dedicated scam alert handle on X (formerly Twitter) to protect members of the SHIB community, has exposed intending fraud and has put out a stern warning for SHIB investors.
In a post on the microblogging platform, Susbarium warned the community of fake K9 Finance telegram groups presenting themselves as legit to steal funds.
#Shibarmy, beware of fake K9 Finance telegram groups!
Don't send any funds to any address! Also, be aware that the pre-sale is ended!
ALWAYS contact us in the official Shibarium Discord/Telegram, we will confirm for you.
Please find the official @K9finance telegram bellow. pic.twitter.com/VocANVf9yMAdvertisement
— Shibarmy Scam Alerts (@susbarium) January 25, 2024
Furthermore, the Shiba Inu community is urged not to send funds to any address associated with the perpetrators stressing that the pre-sale for K9 finance has ended.
Meanwhile, it is worth knowing that K9 is an upcoming project built on the Shibarium network representing a quickly evolving technological world.
Scammers impersonate Shiba Inu team members
Meanwhile, this is not the first time scammers are targeting the Shiba Inu project. Earlier on, Shiba scam alerts drew the attention of the SHIB community to impersonators disguising themselves as member of the team and also as SHIB developers.
The purpose of these groups is to spread false news and phishing links intended to drain the wallets of anyone who clicks on them. The community is advised to avoid clicking on suspicious links to prevent the loss of assets and the jeopardizing of personal information.
Also, it was previously mentioned, that several people tried to take advantage of the increasing demand for the AI token Bad Idea AI (BAD) by launching token sales on Shibarium under the same name. Remember that even though the Bad Idea token is an official Shibarium partner, the platform has not yet been bridged on the platform.
Always contact the official Shibarium team on Discord and Telegram to confirm projects before taking any action.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.