In a recent tweet, Shiba Inu lead Shytoshi Kusama issued a crucial alert to the Shiba Inu community. The tweet addressed recent misinformation about the upcoming TREAT token.
Kusama addressed an incorrect assumption in an article by Crypto.com regarding the TREAT token, which has not yet been launched, echoing a warning sounded by Shiba Inu-focused X account ShibArmy Scam alerts.
Shibarmy Scam Alerts cautioned SHIB holders about the misapprehension that TREAT token had been launched, according to the article, with a link to a fake TREAT token site being shared.
Correct. Sadly @cryptocom wrote about our TREAT token that is not yet launched, assuming incorrectly that it was.Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you). #DYOR https://t.co/bkSZVbSfOu
— Shytoshi Kusama™ (@ShytoshiKusama) July 21, 2024
"Correct. Sadly cryptocom wrote about our TREAT token that is not yet launched, assuming incorrectly that it was," Kusama wrote.
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The Shiba Inu lead developer urges SHIB holders to proceed with caution as fake TREAT tokens proliferate: "Proceed with caution with this other Treat token and many other spoofs that will inevitably be created to scam you."
TREAT not yet launched
The message from the Shiba Inu lead highlights a significant concern in the cryptocurrency space: the proliferation of scam tokens. As Shiba Inu's popularity grows, so does the risk of fraudulent activities aimed at duping unsuspecting users.
The Shiba Inu team has reiterated multiple times that the official TREAT token has not been launched. Thus, any token claiming to be TREAT currently on the market might be a scam and is not associated with the Shiba Inu ecosystem. The Shiba Inu community is urged to be cautious and avoid engaging with these fake tokens.
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Scammers often create fraudulent tokens mimicking legitimate projects to deceive investors. Thus, it might be crucial to conduct thorough research before making any transactions.
The Shiba Inu community should stay vigilant and protect their investments by only using trusted and verified sources. They should follow official Shiba Inu communication channels to stay updated on the project's developments and token releases.
