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The Shiba Inu team has issued a crucial warning to its community, alerting them to the presence of fraudulent groups seeking to exploit the trust of SHIB community members for personal gain. This cautionary message from the team arrives as the cryptocurrency scored another significant listing milestone.

SHIB Team Cautions Against Scams The Shiba Inu team has advocated for heightened vigilance against scams targeting community members. In a recent X (formerly Twitter) post, Shibarmy Scam Alerts, a social media handle dedicated to exposing scams, issued a stern warning regarding multiple scam attempts observed on Telegram social media platform.

The scam tracker has urged community members to watch out for fake or fraudulent groups impersonating legitimate Shiba Inu channels on Telegram. They disclosed tactics employed by these deceptive channels, including “promising giveaways, exclusive content, investment opportunities, and offering assistance for transaction issues to deceive unsuspecting community members.  

Excluding Telegram, the Shiba Inu community has also seen a rise in scam activities via X, with numerous scammers targeting community members using similar impersonation tactics or phishing attacks. 

While informing Shiba Inu members of these latest scam attacks on the community, Shibarmy Scam Alerts also outlined various ways SHIB community members can protect their privacy and security. The SHIB tracker emphasized the importance of verifying the authenticity of Telegram groups by checking for verification badges and announcements from reputable sources. 

Furthermore, the team stressed the significance of avoiding suspicious links and refraining from sharing wallet addresses in public chat rooms to reduce the likelihood of becoming a primary target for malicious attackers. Finally, Shibarmy Scam Alerts has urged users to stay updated on security alerts and adhere to optimal security practices, such as reporting any suspicious scam activities to the relevant authorities.  

Shiba Inu Gets Listed By Crypto Exchange Nexo Amidst efforts to combat scam attempts within the Shiba Inu community, the cryptocurrency is celebrating a new milestone, securing listings from major exchanges. Nexo, a Switzerland-based all-in-one crypto platform, announced in a post on X on May 7, that it has officially integrated Shiba Inu into its crypto offerings. 

In its post, the crypto exchange lauded SHIB’s impressive growth over the years, highlighting the important role the Shiba Inu community, including its developer and dedicated supporters, has taken in boosting the development of the SHIB ecosystem. 

This listing also comes as Shiba Inu’s demand in the broader crypto market is growing at a rapid pace. Including Nexo, over 50 other crypto platforms or exchanges have listed SHIB, such as Binance, Robinhood, Bitget, and recently, Bitcoin.com.au. 

SHIB price drops below $0.000023 | Source: SHIBUSDT on Tradingview.com Featured image from CoinMarketCap, 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.

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