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Shiba Inu

Shiba Inu Holders Warned Against This Critical Scam That Could Cost Them Money

Scott Matherson
by Scott Matherson
2 weeks ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Shiba Inu community is once again on high alert following a new security warning shared by Susbarium, a Shibarium-focused scam alert account, on the social media platform X. The caution centers on an unusual yet increasingly dangerous scam involving the sale of Telegram usernames, which is a tactic that allows malicious actors to impersonate trusted members of the SHIB community. 

Shiba Inu Holders Warned Against Telegram Scam

Scams and hacks are not new in the Shiba Inu ecosystem, but this one is raising concern because of how easily it can compromise credibility and trick unsuspecting holders. According to Susbarium, scammers are offering significant amounts of money to Shiba Inu community members in exchange for their Telegram usernames. 

Related Reading: Shiba Inu Bulls Are Back: Here’s The 512 Billion SHIB Accumulation That Triggered A Spark

At first glance, this may seem harmless or even profitable. However, the true danger lies in what happens after the transaction. Once a trusted username changes hands, the buyer can impersonate the original account owner, use the reputation associated with the handle, and exploit the trust others have built with that identity. From there, these impersonators can scam others, spread misinformation, and even damage the reputation of the original owner who unknowingly handed over their credibility.

The risks of this scam extend beyond simple impersonation. Fake accounts with respected usernames can easily convince community members to click on malicious links, share wallet information, or participate in fraudulent token sales. This problem is especially concerning in Shiba Inu’s active ecosystem, as Telegram is a major hub for discussions and announcements. 

The Susbarium warning emphasizes that selling usernames off-platform or through private deals creates a loophole for scammers. “Never sell your username through private messages or off platform deals,” Susbarium warned. Even legal sales through platforms like Fragment still raise questions of trust, since usernames play a crucial role in verifying credibility in online communities.

Growing Scams Threatening The Shiba Inu Ecosystem

Warnings about scams are not new to the Shiba Inu community, and multiple trusted accounts have repeatedly raised alarms about malicious actors. Earlier this year, Shibarium Trustwatch cautioned SHIB holders about fake X profiles designed to impersonate popular Shiba Inu marketing lead Lucie.

Related Reading: Shiba Inu Completes Bullish Setup: Why A 138% Climb Could Be In The Works

More recently, Shiba Inu developer Kaal Dhairya issued another critical alert after identifying fake Discord servers circulating in the ecosystem. These fraudulent servers, which were styled to look like legitimate SHIB or Shibarium groups, were being used to spread harmful links and carry out wallet hacks. 

One recent scam involved fake migration sites pushing a LEASH V2 migration through Telegram or phishing websites to trick Shiba Inu holders into approving wallet connections and transactions that drained funds. In response to this, the Shiba Inu team warned that any migration or contract change claims circulated outside official channels, such as the SHIB website or verified social profiles, should be treated as fraudulent.

Shiba Inu
SHIB trading at $0.000012 on the 1D chart | Source: SHIBUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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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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