The popular Shiba Inu meme cryptocurrency coin has given a warning to its investors and future crypto buyers about a new SHIB coin scam that is doing its rounds in the market.
Shiba Inu tweeted that they had recently come to know of a new scam that is gaining traction on social media as well as other platforms.
They announced that a fake Shiba Inu telegram has been created and is currently being shared by people all over social media sites. In the scam, the fraudsters imitate other official accounts and also make new fake user accounts. The fraudsters also reply to queries posted by people – often misleading them and providing wrong information.
In light of this, the co-founder of CryptoHead, Adam Morris, advised people on how they can stay wary of other future crypto-related scams. He shares that people should be careful of crypto or related platforms that offer big returns right away. Every individual interested in making an investment should carry out their own research about the legitimacy of the platform and then make any decision.
People should also only get involved with reputable companies and should watch out for scammers using names of big personalities like Elon Musk or other celebrities. Even if these celebrities don’t associate with these fake crypto platforms, the scammers are successful just by using the name of these famous personalities and luring people into investing little for big returns. Being vigilant is the first step in avoiding scams when you invest in crypto.