Shiba Inu Developers Issue Critical Warning About Ongoing TREAT Token Scam Attack

A lead developer of the doggy-themed meme coin, Shiba Inu has issued a critical warning to SHIB community members about an ongoing scam attack

A lead developer of the doggy-themed meme coin, Shiba Inu has raised the alarm over a critical scam attack targeting SHIB community members with an ongoing scam involving one of SHIB’s native tokens, TREAT.

Scam Attackers Launch Fake TREAT TokenA Shiba Inu member, known as ‘Digarch,’ shared a screenshot of a scam alert on June 2, issued by Shiba Inu’s lead developer, DaVinci on X (formerly Twitter). Along with the alert, Digarch shared a stern warning, urging the SHIB Army to be extra cautious during this volatile time.

The screenshot shared by Digarch was from SHIB’s official Discord account, which is used for updates and daily discussions about the Shiba Inu ecosystem. In his message to the Shiba Inu community, DaVinci expressed serious concerns regarding the listing and distribution of fraudulent tokens that falsely claim to be associated with the SHIB ecosystem, its developers, and the Shibarium project.

According to DaVinci’s statement, “scam individuals” have launched a fake TREAT token, claiming to be directly involved in the SHIB ecosystem. These fake tokens are being listed on popular crypto platforms like CoinMarketCap and crypto exchanges like CoinGecko.

Informing community members of these malicious activities, the Shiba Inu developer advised SHIB members to conduct thorough research before investing or engaging in any tokens. He disclosed that the malicious actors have changed their scam tactics, initially misusing Ryoshi Research mediums, but now illicitly exploiting Shiba Inu State and Canine code.

Disturbingly, these scam attackers have also integrated the official SHIB website address, shib.io, into their promotional scam videos to bolster the credibility of their false claims and illegal schemes.

DaVinci clarified that the SHIB native token, TREAT, has not yet been launched. Hence, any tokens claiming to be Treat or associated with Treat are fraudulent and intended to fleece and deceive SHIB community members. Engaging with these fraudulent tokens could result in severe financial consequences, as they are not affiliated with the Shiba Inu ecosystem, nor do they have any intrinsic value or strong community backing it.

The Shiba Inu developer acknowledged that due to ShibaSwap’s decentralized nature, bans on the fake TREAT token cannot be enforced. However, to protect the SHIB community members, the team will continue to express their disapproval of these malicious individuals and their unsavory scam practices in no uncertain terms.

About tHE Shiba Inu Real TREAT TokenThe real Shiba Inu TREAT token is part of the ecosystem’s utility tokens, SHIB, LEASH, SHI, and BONE. While each token has a distinct function within the Shiba Inu ecosystem and Shibarium network, TREAT was specifically designed to enhance liquidity for the SHI stablecoin and serve as a reward token like BONE for the crypto exchange ShibaSwap.

According to official reports from SHIB’s lead marketing member, Lucie, the TREAT token is still in the development phase and has not been released. Despite rumors suggesting that the SHIB token was launched in 2023, Lucie debunked these claims in a previous X post, clarifying that TREAT has not been introduced yet.

“TreatsforShib, aka $TREAT from SHIB.IO, has NOT been released yet. I’ve noticed some confused journalists posting that it was released in 2023. NO, IT WASN’T,” Lucie stated.

The Shiba Inu marketing lead also urged community members to stay alert and always verify information from SHIB’s official website or its account on Discord.