Scammers are looking to steal Shibaswap user assets, according to a warning from Shiba Inu-focused security outfit Susbarium.
As in any industry, scammers in the crypto space are always devising new schemes to rob users of their hard-earned money. In the latest instance, these scammers target users of the Shiba Inu-developed decentralized exchange Shibaswap.
Fake Shibaswap
Scammers are looking to steal Shibaswap user assets, according to a warning from Shiba Inu-focused security outfit Susbarium, also known as “Shibarium Trustwatch.”
On Tuesday, March 18, Susbarium warned that these bad actors were launching fake Shibaswap websites to achieve their aims, urging users to be careful.
🚨Stay Alert! 🚨
Fake ShibaSwap
Cybercriminals are creating counterfeit ShibaSwap sites to steal your assets. Double-check the URL before accessing the platform or connecting your wallet. The only official ShibaSwap site is https://t.co/Ct4b5gv59f
🔒 Tips to Protect…
— Susbarium | Shibarium Trustwatch (@susbarium) March 18, 2025
While the security outfit did not elaborate, these fake Shibaswap websites are likely linked to wallet drainers, which siphon assets once the user connects their wallet. At the time of writing, it is currently unclear if any user has lost money to the scheme.
Meanwhile, it is not the first time a security platform has warned of fake Shibaswap links. “Jack Fake-Killer,” an X account dedicated to exposing phishing links, first warned of such a scheme on January 13.
Beyond the Shibaswap scam, The Crypto Basic has called attention to numerous instances of fraudulent endeavors targeting Shiba Inu holders.
How Shiba Inu Holders Can Stay Safe from Shibaswap scam
The fake Shibaswap scam is a phishing link scam that relies on users’ failure to spot slight changes in website URLs. Below are some tips to stay safe, including tips from Susbarium.
- Always double-check the Shibaswap URL before accessing it or connecting your wallet. Notably, the only official ShibaSwap site is “https://shibaswap.com.”
- Bookmark the official Shibaswap website for easy and quick access.
- Be wary of using Shibaswap links shared in forums.
- Use tools like Scam Advisor and Scam Sniffer to double-check URLs when unsure.
- Never share your wallet seed phrases.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.