TL;DR

Shibarmy Scam Alerts warned about fraudulent websites targeting Shiba Inu users, urging verification of site legitimacy. The Shiba Inu team previously cautioned about fake Dapps and deceptive offers, emphasizing double-checking URLs and avoiding suspicious links.

The Latest Alert

The X account focused on treats surrounding Shiba Inu and its native token SHIB – Shibarmy Scam Alerts issued a stark warning to the community. The team claimed that multiple fraudulent websites have spread across the crypto space, posing substantial risks to people. Those websites were described as a scam designed to steal your funds: 

There is no website you need to connect your wallet to so it can sync up with the network, refresh your rewards, fix any issues you may be having with liquidity pools.

The team advised users to stay focused and always verify the legitimacy of a certain website before connecting their wallets. Using only official links from trusted sources was also labeled a top priority. 

Shiba Inu is one of the most popular meme coins and among the trendiest cryptocurrencies, which could explain why scammers target people from its community. The latest data shows that there are almost 1.4 million SHIB holders, with over 58% currently sitting on paper profits. The percentage was even higher a few weeks ago when the meme coin was at a better price condition.

As of the moment, SHIB is worth approximately $0.00002314 (per CoinGeckos data), a 9% decline on a 14-day scale.

SHIB Price, Source: CoinGecko

Previous Warnings

This is not the first time the Shiba Inu team cautions the community about potential dangers. Last year, Shibarmy Scam Alerts argued that scammers are crafty and can create decentralized applications (Dapps) that look nearly identical to legitimate platforms related to Shiba Inu (SHIB), Bone ShibaSwap (BONE), Doge Killer (LEASH), and other memecoins.  

Always double-check the name and URL of the Dapp to make sure youre using the official and trusted version, they added.

The team also claimed that sneaky fraudsters pretend to represent reputable projects or services, thus luring people into sharing personal data and later becoming victims. As such, verifying the authenticity of each account and Dapp is of utmost importance. 

Earlier this year, Shibariums Marketing Strategist, using the X handle LUCIE, advised the community to take any suspicious links from prominent individuals or entities announcing unexpected rewards with a grain of salt. The SHIB official believes those offerings most likely come from hacked accounts, saying people should refrain from connecting their wallets to dubious websites.