In a recent tweet by Susbarium, a Shib-focused X account dedicated to protecting the Shiba Inu community and exposing scams, Shiba Inu (SHIB) newcomers have been issued a critical warning as scammers attempt to exploit inexperienced holders. According to Susbarium Shibarium Trust Watch, bad actors are circulating fake contract addresses to mislead users and potentially steal their funds.
🚨 Warning 🚨
Scammers are trying to exploit inexperienced holders by misleading them with fake contract addresses.
If you have any doubts, head to Shibarium Discord and double-check. We’ve posted all the correct information there. Stay safe! pic.twitter.com/w5PCTGs3ds
In its message, Susbarium urged SHIB holders to be cautious and verify all information: "If you have any doubts, head to the Shibarium Discord and double-check. We’ve posted all the correct information there. Stay safe."
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This warning comes as Shiba Inu continues to draw new investors; according to IntoTheBlock data, the Shiba Inu new adoption rate increased to 38.97% on Feb. 9. The new adoption rate indicator gives information on the network's growth in terms of new user adoption. A higher percentage could imply an expanding network with increasing new user uptake. A lower percentage may indicate a mature network with a consistent user base.
Network growth makes Shiba Inu a target for scammers wanting to capitalize on its popularity. Users should always rely on official channels for updates and avoid interacting with suspicious links or unofficial sources.
Shiba Inu holders warned to be vigilant
As the SHIB ecosystem expands, security remains a top priority. Holders are encouraged to stay vigilant and report any suspicious activity to help protect the community.
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As previously reported, the Shiba Inu community is warned to beware of fake websites impersonating SHIB. These fraudulent sites are designed to steal users' funds. In this light, Shiba Inu holders are urged to double-check URLs and always make sure the website address matches official sources. Fake sites often have slight variations in their URLs.
They should also keep their private keys secure and never reveal them or their recovery phrases to anyone. Lastly, if they are ever unsure about a website or request, they should never take any action without verifying first.
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