Shiba Inu scam detector platform Susbarium has warned community members of possible scams that could threaten their identity and possibly lead to the loss of their crypto holdings. Besides the warning, the platform has also provided tips on how to guide against this.
Scams On The Rise In The Shiba Inu Community In a post shared on their X (formerly Twitter), Susbarium warned Shibizens against interacting with unofficial accounts. They were sounding this note of warning because of impersonators and scammers who they noted are creating fake accounts to mislead Shiba Inu community members. These impersonators apparently provide misleading information to create doubt in the community.
As part of their malicious acts, Susbarium noted that these scammers also misdirect people to fake websites and go as far as to obtain private information about their victims. This can be fatal as such information can be utilized maliciously against such a person. One way in which these scammers are known to operate is by draining the wallets of their victims.
The platform assured community members that they are always willing to help in verifying any account they are unsure of. Meanwhile, they also urged community members to report any account that could be a clone or trying to impersonate an official account.
This latest warning comes on the back of a growing concern around the amount of scams going on in the SHIB community. Susbarium had recently warned of scammers who were promoting fake TREAT tokens to unsuspecting investors. Another scam that drew the community’s attention was the one of scammers creating counterfeit sites identical to the SHIB magazine page.
SHIB price shows strength | Source: SHIBUSD on Tradingview.com How To Guide Against These Scams In an earlier X post, Susbarium provided six tips to protect Shiba Inu community members from falling for such scams. The first tip was to be wary of unsolicited messages. They noted that these scammers usually reach out through direct messages while promising great returns on investments to their victims. The second tip revolved around enabling two-factor authentication (2FA) on all crypto accounts.
For the third tip, Susbarium proposed the use of hardware wallets to community members in order to store their crypto tokens securely. These hardware wallets are physical devices that help users keep their private keys online. That way, hackers find it harder to gain access to the user’s funds.
The other tips included community members being updated on the latest security practices in the crypto space and trusting their instincts. Susbarium also warned them to be wary of “pump and dump” scams. This is when scammers artificially inflate the price of a crypto token and dump the tokens on unsuspecting investors at its peak.
Featured image from Cryptopolitan, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.