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A lead developer of the doggy-themed meme coin, Shiba Inu has issued a critical warning to SHIB community members about an ongoing scam attack involving one of SHIB’s native tokens, TREAT.
Scam Attackers Launch Fake TREAT Token
On June 2, a Shiba Inu member identified as ‘Digarch’ shared a screenshot of a scam alert issued by Shiba Inu’s lead developer, DaVinci, on X (formerly Twitter). Alongside this alert, Digarch released a stern warning, urging the SHIB Army to exercise extreme caution during this volatile period.
The screenshot released by Digarch originated from SHIB’S official discord account, a platform regularly used for updates and daily discussions about the Shiba Inu ecosystem. In his message to the Shiba Inu community, DaVinci raised serious concerns about the listing and distribution of fraudulent tokens falsely claiming association with the SHIB ecosystem, its developers, and the Shibarium project.
DaVinci’s statement revealed that “deceitful individuals” have launched a fake TREAT token, under the guise of being directly involved with the SHIB ecosystem. These fake tokens are currently listed on popular crypto platforms such asCoinMarketCap and crypto exchanges like CoinGecko.
Informing community members of these malicious activities, the Shiba Inu developer has advised SHIB members to practice caution and conduct thorough research before investing or engaging in any tokens. He disclosed that the malicious actors have changed their scam tactics, initially misusing Ryoshi Research mediums, but now illicitly exploiting Shiba Inu State and Canine code.
Disturbingly, these scam attackers have also integrated the official SHIBwebsite address, shib.io, into their promotional scam videos to bolster the credibility of their false claims and illegal schemes.
DaVinci has explicitly clarified that the SHIB native token, TREAT, has not yet been launched. Therefore, any tokens claiming to be Treat or associated with Treat are fraudulent and intended to fleece and deceive SHIBcommunity members. Engaging with these fraudulent tokens could result in severe financial consequences, as they are not affiliated with the Shiba Inu ecosystem, and have any intrinsic value or strong community backing it.
The Shiba Inu developer has acknowledged that due to ShibaSwap’s decentralized nature, bans on the fake TREAT token cannot be enforced. However, to protect the SHIB community members, the team will persist in unequivocally expressing their disapproval of these malicious individuals and their unsavory scam practices.
About tHE Shiba Inu Real TREAT Token
The real Shiba Inu TREAT token is part of the ecosystem’s utility tokens, SHIB, LEASH, SHI, and BONE. While each token has a distinct function within the Shiba Inu ecosystem and Shibarium network, TREAT was specifically designed to enhance liquidity for the SHI stablecoin and serve as a reward token like BONE for the crypto exchange ShibaSwap.
According to official reports from SHIB’s lead marketing member, Lucie, the TREAT token is still in the development phase and has not been released. Despite rumors suggesting that the SHIB token was launched in 2023, Lucie has debunked these claims in a previous X post, clarifying that TREAT has not been introduced yet.
“TreatsforShib, aka $TREAT from SHIB.IO, has NOT been released yet. I’ve noticed some confused journalists posting that it was released in 2023. NO, IT WASN’T,” Lucie stated.
The Shiba Inu marketing lead has also urged community members to stay alert and always verify information from SHIB’s official website or its account on Discord.
Featured image created with Dall.E, chart from Tradingview.com
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