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Hack

Shiba Inu Team Member Shares Critical Message Following Hack

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

A prominent Shiba Inu team member has taken to social media to quell the anxieties of community members after being exposed to a dangerous hack attack by cybercriminals who hijacked the community’s telegram account and used it for scam purposes. 

Related Reading: Cryptocurrencies As Potential Beneficiaries In A US Treasury Bond Collapse

Community Admin Recovers Telegram Account 

On Wednesday, October 4, the SHIB community fell victim to a crypto scam attack on their official telegram account. The cybercriminals seized the SHIB telegram account for hours, impersonating the community’s admin and sending fake BONE airdrops through click baits on the channel to steal member’s personal information and crypto assets.  

After noticing the nefarious activities going on in his telegram channel, the SHIB community admin, Ragnar Shiba immediately informed SHIB community members via X (formerly Twitter) about the hijack and urged them not to click any links or respond to messages sent by the hacker.

“TG account was hacked. Do not click on any links. There is no AirDrop!” Shiba stated.

Following the attack, Shiba announced on his official X account that he had finally regained control over the telegram account. The admin ensured that the account had been made secure after moving all his data to a new mobile device and changing his telegram account’s password to a stronger one. 

Shiba also disclosed that he had changed his password for all his accounts with a 2FA. He encouraged the SHIB community to stay alert and guard against hacks by regularly changing their passwords on all their accounts. 

SHIB market cap currently at $4.2 billion. Chart: TradingView.com

“My account in Telegram is secure again. I moved all to a brand-new phone. I changed my password for new and more secure ones. My Twitter account too and all have 2FA. Please be safe everyone!!! Change passwords periodically,” Shiba stated. 

SHIB Battles With Security Vulnerabilities

Since it became mainstream and gained popularity, Shiba Inu, a doggy-themed cryptocurrency meme coin has been a target of cybercriminals. The SHIB ecosystem has experienced multiple cyber attacks by hackers and persistent battles with security vulnerabilities. 

One of the major security threats the SHIB ecosystem faces is phishing attacks. Cybercriminals often attack unsuspecting investors and trick them into revealing their private keys. There have also been a series of thefts on major crypto organizations like Bitrue, and Poly Network, which led to millions of SHIB tokens stolen. 

Related Reading: Cryptocurrencies As Potential Beneficiaries In A US Treasury Bond Collapse

While the SHIB development team has not taken its security protocols lightly, investors and community members are still worried about the possibility of losing their investments to cybercriminals. 

The recent hack on SHIB’s telegram exposes the increasing need for better security measures to safeguard investors from scam activities. 

Featured image from Getty Images

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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