Shiba Inu’s lead developer has warned about fake SHI stablecoin and TREAT tokens.
Shiba Inu’s lead developer Shytoshi Kusama has alerted the community after scammers promote fake versions of unreleased SHIB ecosystem tokens.
In a tweet yesterday, Kusama warned the community not to get scammed by investing in SHI and TREAT tokens. The Shiba Inu lead developer stressed that the tokens are not yet available.
And no Treat and Shi are not yet available. Please dont get scammed.
— Shytoshi Kusama™ (@ShytoshiKusama) June 21, 2023
Notably, Kusama made this known a few hours after he unveiled the much-anticipated Shiba Inu’s physical product- Shibacals: Authenticated Collectibles.
Shibarium Scam Alert Confirms
Meanwhile, Shiba Inu’s dedicated scam tracking platform, Shibarium Scam Alerts, confirmed the circulation of fake SHI and TREAT tokens.
Shibarium Scam Alert warned the community to beware of these illicit tokens as officials SHI and TREAT are not yet released. Shibarium Scam Alert also shared a screenshot from the scammer promoting these tokens on Twitter.
Beware of fake claims of SHI and TREAT which have not been released
Keep safe shibarmy pic.twitter.com/GVeRcyoxHX
— Shibarmy Scam Alerts (@susbarium) June 21, 2023
The Twitter user named Lord Gaudy shared the contract addresses for the fake SHI stablecoin and TREAT. Additionally, the user also claims Shibarium mainnet launch will take place on July 6, 2023.
To gain more insight, The Crypto Basic checked the Twitter handle and discovered it was created on July 10. Interestingly, the account has 2,139 followers on the microblogging platform. His followers include some top Shiba Inu community members, including @ShibaInuHolder.
Lord Gaudy guarantees investors massive returns once they purchase SHI and TREAT before the Shibarium mainnet goes live on July 6. He also claims TREAT has a burn mechanism of 0.25%, while SHI has a burn tax of 2%.
Don’t let fools trick you out
of your $SHI & $TREAT 😉$TREAT contract burns .25%
of teh volume and that means Supply Shock⚡️ $SHI Tax 2% buy and 2% sell,
1% to strengthen liquidity,
1% to buy and burn $TREAT 🔥#Shibarium 6th of July 2023 pic.twitter.com/Ho79FIlxpF
— LORD GAUDY (@lordgaudy) June 21, 2023
Meanwhile, Shiba Inu’s lead developer has been making significant moves to end Lord Gaudy’s continuous scam antics. The scammer shared a screenshot of Kusama’s message on Telegram, where he said he had tried multiple times to “rekt” Lord Gaudy.
SHI and TREAT
It is worth noting that SHI is the upcoming algorithmic stablecoin for Shiba Inu. Unlike most stablecoins, SHI will be pegged to 1 cent ($0.01) when it finally goes live.
Similarly, TREAT is also an upcoming Shiba Inu ecosystem token. The team behind Shiba Inu noted that TREAT would be issued as a reward for staking and liquidity. At press time, the team has not officially announced the tokens’ launch date.
Meanwhile, Scammers have continued to target Shiba Inu community members with different antics. However, Kusama has taken it as a duty to put the community on alert.
Last month, Kusama stressed that the Shiba Inu team has not yet released SHI and TREAT, adding that any token claiming to be created by the team is fake.