Shiba Inu (SHIB) News

New and Sophisticated Scam Targeting Shiba Inu (SHIB) Community

Verification of whether you are a “paper hand” or a “diamond hand” on third-party websites, strongly promoted on X, does not warrant the effort it requires. The new scam campaign gaining momentum at present may be more perilous than the trivial airdrop operations of “doubling your deposit” and the distribution of fake rewards by Elon Musk.

Criminals exploit the “fear of missing out” and entice victims to verify the amount they would have received if they were “diamond hands.”

SHIB holders are under attack once again by scammers. In early December 2023, scammers launched a number of websites purportedly illustrating the potential profitability and loss for holders of Shiba Inu (SHIB) and others. These websites are promoted as tools to verify potential benefits from the immense fluctuations of certain currencies.

On many of the websites created by the same group of scammers (their domain names are slightly different or composed of homoglyph characters), users are asked to license their connected wallets.

On social media, bots post screenshots containing hundreds of eye-catching “paper gains and losses.” Needless to say, once the owner authorizes their wallet on the website, they may lose all their funds in the blink of an eye.

There are two aspects of this scam campaign that make it more dangerous. Firstly, it is promoted through the official advertising channels of X: cryptocurrency enthusiasts see it with an “advertisement” tag in their news feeds. Secondly, in addition to using bots, the infiltrators benefit from hundreds of compromised accounts, likely belonging to real people who have never shared anything related to cryptocurrencies before being hacked.

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Fortunately, some of the scam websites have already been reported by teams from major wallets, including MetaMask and Phantom.

Who else is at risk?

In this way, major browsers prevent users from visiting these websites.

To a large extent, scammers focus on meme coin holders: advertisements for PEPE, BOB, DOGE, GROK, and other meme cryptocurrencies have been registered on X. However, some DeFi coins, including UNI from Uniswap and CVX from Convex Finance, are also being used in fraudulent advertisements.

The price of Shiba Inu (SHIB) is $0.000008414, up 2% over the past 24 hours.

Important Notice: The content of this article is for informational purposes only and should not be construed as financial advice. assumes no responsibility for any investment decisions made based on the information provided herein. It is strongly advised to seek the guidance of a qualified specialist or financial advisor before making any investment choices.

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