There is a person named Shiba inu.
LightRocket via a photo by Pavlo Gonchar.
The people behind the shiba inu altcoin, which has swelled to a $24 billion valuation this year, issued a fraud alert Sunday, warning investors that their community is being targeted by online fraudsters.
The so-called Shib team said in a video posted on the social media site that it was made aware of a recent scam and urged people to stay alert and safe.
A fake Telegram group is being shared. The team said that the scammers impersonate official accounts and create fake users, and reply to general posts using the #SHIB #LEASH and #SHIBASWAP.
The group told investors to not give email addresses or passwords. There is no: breaking news. There is a big event. "There is no: Shiba Airdrop!," it said in the video.
On Monday, the price of Shiba inu was down by 2% at $0.00004493, but still had a valuation of $24 billion.
The doge coin spinoff has soared in popularity and market valuation. It shot up to a nearly $36 billion market cap from $3.59 billion at the end of September, and became the 11th most valuable coin.
It's listed on a number of exchanges, including the largest one in the US. It was added to the public and the Gemini exchange this month.
Other exchanges said they will keep an eye on shiba inu. The company said it would focus on investor protection before listing the token.
Ryoshi launched Shiba inu in August 2020 with a 28-page white paper that outlined a goal of moving away from rigid social structures and traditional mindsets.
Business Insider has an original article.
