Shiba Inu Issues Alert: TREAT Token Scams Surge Amid Blockchain Upgrades

The Shiba Inu community is on alert as scammers capitalize on the anticipated release of the TREAT token, which is leading to misinformation and fraudulent claims. Shibarmy Scam Alerts warns investors to verify sources as excitement grows around Shiba Inu's blockchain developments, including a significant shift of its DEX, ShibaSwap, to the new Shibarium platform.

Shiba Inu's TREAT Token Alert: Community Warned Against Premature Investments Amid Blockchain Transition

As a result, Shibarmy Scam Alerts, an X handle committed to exposing fraud and protecting the Shiba Inu community, has issued an urgent alert stating that the TREAT token has not yet been officially distributed. It further stated that, contrary to recent reports, the SHIB team has not officially launched, per U.Today.

In light of this, the Shiba Inu community is advised to exercise caution and refrain from engaging in TREAT-related activities or investments until authorized sources have confirmed its release. They should also protect their assets by not engaging in any unlawful TREAT-related activity, being watchful, and prioritizing financial security.

Shiba Inu recently made considerable headway, receiving $12 million from major venture capital partners led by Cypher Capital to launch its next-generation Fully Homomorphic Encryption (FHE) blockchain, which the forthcoming TREAT token will power. The FHE technology, which enables computations on encrypted data, has the potential to revolutionize Bitcoin privacy and trust.

However, with immense anticipation comes enormous risk, so the TREAT token is under immediate alert. The Shiba Inu community should be aware that any statements about the TREAT token being issued are fraudulent, as the SHIB team has not initiated any such launch.

They should also rely on official announcements for reliable information about the TREAT launch. The Shiba Inu decentralized exchange ShibaSwap has relocated to Shibarium, bringing new improvements.

Shiba Inu has announced the transition of its DEX, ShibaSwap, from Ethereum to Shibarium. This move is a significant step forward in ShibaSwap's development, opening up new possibilities and pushing innovation on the Shibarium blockchain.

Shiba Inu Community Warned Against Rising Telegram Scams, Urged to Tighten Security

The Shiba Inu community has issued an alert due to an unsettling trend in which members are added to Telegram groups without their knowledge.

Shibarmy Scam Alerts, an X account dedicated to uncovering scams and protecting the Shiba Inu community, has issued an alert regarding this: "We've noticed an alarming trend where community members are being added to Telegram groups without their consent."

There have been complaints of an upsurge in Shiba Inu community members joining Telegram groups that they did not want to join. These groups, who frequently appear as official Shiba Inu channels, are involved in fraudulent behavior directed toward the SHIB community.

Scammers impersonate authentic Shiba Inu accounts and entice investors with bogus promises like airdrops, gifts, and free tokens. They use complex strategies to masquerade as legitimate community channels, making it harder to detect the deception.

This development has caused security experts to issue warnings and recommend preventing such unwanted operations. In this light, "Shibarmy Scam Alerts" advises SHIB holders to update their Telegram privacy settings to block unwanted group additions and whitelist only trusted contacts.

Some airdrop efforts may require users to authenticate assets before claiming incentives. In this regard, assessing the potential benefits against the risks of exposing assets for the promise of free tokens may be crucial. In other news, Shiba Inu raised $12 million by selling its unpublished TREAT token to non-US investors. Venture capital investors include Polygon Ventures, Animoca Brands, and others.

Photo: Microsoft Bing