The Shiba Inu community was alerted about a malicious scam. A hijacked social media account advertised a false Shiba Inu coin airdrop. Whale Insider account, famous for cryptocurrency research, went to the wrong ones. Fake news is being spread about a Shiba Inu partnership and a non-existent SHIB airdrop. This action has endangered the assets of the SHIB community. The plan was to make the users click on the nasty links and threaten their investments.

ShibArmy Scam Alerts, or @susbarium, promptly detected and informed the community. This X/Twitter account performs a crucial function in identifying scams in the Shiba Inu ecosystem. The compromised Whale Insider account used to be a reliable source of news. But it turned into a weapon of deceit, deceiving SHIB holders into disclosing sensitive data or sending tokens to scammers. ShibArmy Scam Alerts warned not to click on any links coming from the affected account.

Please be aware, this account was compromised.
Urgent: Do not click on any links posted by this account. pic.twitter.com/Wxc2Zyvs3g

— Shibarmy Scam Alerts (@susbarium) March 25, 2024

ShibArmy Alerts on Rising Shiba Inu Scams

The fake ads also threaten the community. These advertisements link the user to pages that prompt the user to connect their crypto wallets and receive counterfeit tokens. The target is to take money from people who they deceive. However, ShibArmy Scam Alerts warns Shiba Inu holders to be somber. They suggest not linking crypto wallets to websites without a lot of investigation. This is believed to be advice too late to the SHIB community that is being scammed in increasing numbers as they trust and are enthusiastic.

Cryptocurrency scams are a continuous problem. The more popular digital assets such as SHIB become, the higher the risk that scammers will start exploiting it. A way to protect assets is not to share private keys or personal information. Testing all sources before beginning any marketing or airdrop is very important as well. Still, the Shiba Inu community keeps an eye out for such threats, trying to guard its members from possible scams.

Market Reaction in the Midst of Scam Alerts

Notwithstanding the scam warnings, Shiba Inu’s market sentiment is still bullish. During the last 24 hours, SHIB achieved a price rise of 9.36%. At present, it is trading at $0.00002999. The trading volume of SHIB also increased by 43.33%. This means that the price of the token will continue to rise in the coming days. The resilience of the community is reflected in the quick response to the scam warning. It emphasizes the need to stay knowledgeable and careful in the unpredictable cryptocurrency market.

Read Also: Hong Kong’s Financial Regulator Flags Two Platforms on Crypto-Related Fraud

The post Shiba Inu (SHIB) Jumps 9.36% Despite Scam Alert Buzz appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am