Shiba Inu Team Sends Crucial Safety Warning to Exchanges and Portals

Shiba Inu (SHIB) marketing specialist Lucie has warned exchanges and portals to be more vigilant against impostors.

Lucie has continued to call out scams and dishonest individuals looking to prey on the community. In her latest address, she highlighted the growing prevalence of impersonation in the community, with the motive to defraud unsuspecting members.

Shiba Inu Team Member The Latest Victim

Lucie pointed out that the growth of impostors in the Shiba Inu and Shibarium ecosystems led to the compromise of the social media account of Ragnar, one of the Shibarium Telegram admins.

She emphasizes that exchanges and portals must be more vigilant when dealing with individuals who approach them for any reason in the name of Shiba Inu.

“I kindly urge you to exercise utmost caution when approached by individuals claiming to be part of the Shiba Team. Today, I received three DMs from impostors attempting to deceive,” she said.

The community-driven nature of Shiba Inu has particularly given fraudsters an avenue to be dubiously creative, as many SHIB holders search for answers to navigate the fast-evolving Shiba Inu ecosystem.

Besides the takeover of Ragnar’s Telegram account, Shiba Inu is also featured in other exploits in the industry. While not necessarily damning, a White hat hacker revealed some months ago how he discovered a bug on Coinbase that could enable him to stack over 50 Bitcoin (BTC) for 50 Shiba Inu tokens.

Broad Ecosystem Exploits on Record

Outside the Shiba Inu ecosystem, hacks and scams have been prevalent within the broader crypto scene this year.

While protocols like Shiba Inu with emerging smart contracts hubs like Shibarium are generally more susceptible to exploits, exchanges like Bitrue have also been hacked this year, with Shiba Inu prominently featured in both events.

Moreover, the hacker who exploited FTX last November is currently exhibiting boldness as they have been moving tens of thousands of Ethereum assets to further mask and launder their loot.

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