Shiba Inu Community Sounds Warning Alarm As Scammers Siege Shibarium
September 11 2023 - 5:00AM
NEWSBTC
In a recent development, the Shiba Inu community has warned of a
“scam” project that may be responsible for some of the FUD attacks
that have plagued the Shibarium network since it launched on August
16. Shibarium Admin Warns Of Scam Project In a tweet on the X
(formerly Twitter) platform, a member of the Shibarium tech team
(known as Digarch) shared a screenshot of the admin warning of a
scam project set to be deployed on the layer-2 network. According
to the Shibarium tech admin named DaVinci, “Pawswap” is the scam
project responsible for funding attacks on Shibarium. Related
Reading: New Shibarium Update Sets The Stage For Shiba Inu To Reach
All-Time High Besides funding these attacks, Pawswap allegedly uses
its community to spread fear, uncertainty, and doubt (FUD) about
the network. DaVinci said the project and its team had infiltrated
the Shibarmy by passing off as Pawzone, a credible project set to
launch on the Shibarium network. Community member warns community
of scam making the rounds | Source: X As a result of this, he urged
the Shib community to stay safe from Pawswap, which he called a
“Scam or Shitcoin,” and that they defend the ecosystem from such
projects. Meanwhile, Digarch, who shared the screenshot,
clarified that Pawzone was different from Pawswap, which DaVinci
had mentioned, and stated that Pawzone was the team behind the NFT
marketplace Pawzaar, which will be one of the NFT marketplaces that
will be launching on Shibarium soon. Pawswap Legit Or Not?
Following Digarch’s tweet, another user on the X platform said that
Pawswap wasn’t a scam and pointed out that the project was
certified by Certik, a leading blockchain security firm, and
certification always inspires confidence in the minds of the public
about a particular project. Upon further investigation, this user’s
assertion is correct, as Certik awarded a silver KYC badge to the
project on September 3, according to data from their website. As
part of the verification process, Certik also verified 8 of the
project’s core team members and reviewed its token contract.
Related Reading: Shiba Inu Whales Begin Accumulation As Shibarium
Grows It is also worth mentioning that the project plans to launch
its decentralized exchange (DEX) on the Shibarium network. As such,
one might wonder why the Pawswap team would be looking to cause
Shibarium to fail when it does not benefit the team. The project
also seems to have a significant following, with over 13,000
followers on its X platform. While there are no assurances
that Pawswap is legit or a scam like DaVinci has asserted, it is
important for the community to always do their research. This
is something that Shibarium’s lead developer, Shytoshi Kusama, has
always emphasized in the network’s updates as he mentioned the
influx of tokens and projects into the Shibarium ecosystem. SHIB
price falls as scam allegations gain ground | Source: SHIBUSD on
Tradingview.com Featured image from Unsplash, chart from
Tradingview.com
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024