NewsScamsShiba Inu (SHIB)

Scammers Impersonate Shytoshi To Promote Fake Rewards Programs

Scammers are impersonating Shiba Inu lead developer Shytoshi Kusama to sell a fake rewards program on Twitter. The goal is to lure his nearly one million followers and the wider Twitter into participating in this scam.

The scammers promise tons of rewards for holders of digital assets such as BONE, SHIB, LEASH, and others, saying there’s tons of unclaimed rewards. In one tweet, they claimed that the Shibarium Beta private access was still live and users could participate to qualify for rewards.

By participating in the fake Shibarium Beta private access, the scammers may ask for personal details that can allow them to steal from the unsuspecting users.

A Long History of Scams

Shiba Inu is the number one Dogecoin rival, created as “the Dogecoin killer”. It grew rapidly in popularity, but so did the number of fraudsters around it. The history of scammers trying to get members of the Shiba Inu community goes back years ago.

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In 2021, Shytoshi posted a warning in a tweet telling his followers to be careful as the cases of scams were rampant. It appears that fraudsters were using a fake link to steal from users trying to access NFTs on OpenSea.

What To Do Next

Apart from Shiba Inu related scams, there are many others flying around, so it’s important to not jump on just any information you see on the internet, especially from unverified accounts.

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Apparently there are several accounts that look like Sytoshi’s with the avatar and everything, but only his real account is verified. This way, you can avoid falling into these scams unless the scammers hack the real account which is also a thing now.


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Alexander Grayson

Alexander Grayson is a seasoned crypto trader with over a decade of experience in the industry. He has a reputation for his analytical approach to trading and his ability to anticipate shifts in the crypto landscape.

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