Best Way to Protect Yourself Against Crypto Scams Named by SHIB Team

The official SHIB marketing expert known under the pseudonym Lucie has taken to her account on the X platform (formerly Twitter) to address the global community of Shiba Inu holders and discuss with them how to protect themselves against fraudulent activities within the cryptocurrency space.

Here's how to protect yourself against scams, per Lucie

In her partly jesting and partly serious X post, Lucie stressed the importance of having a cold-blooded attitude and of not letting scams distract you and not to react to them. Therefore, “the best way to protect yourself against scams, rugs, and pump-and-dumb schemes” is quite simple, Lucie believes, as she tweeted: “Don’t pay attention to them.”

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Reacting to scams and rugpull attempts is the same as taking “free candy from strangers” or “buying fake brand items from pushy street sellers.” Crypto investments should be treated with “caution and common sense.”

SHIB burns jump 208%

The Shibburn wallet tracking platform has revealed that over the past day, the SHIB burn metric has displayed a substantial increase of slightly more than 208%. That rise was achieved thanks to the removal of 53,427,800 SHIB meme coins from the circulating supply.

Almost all of those SHIB were burned in a single transfer, which pushed 53,423,510 Shiba Inu to an unspendable blockchain wallet.

According to the Shibburn website, by now, the joint efforts of the SHIB team and the community have made it possible to burn 410,742,344,605,975 SHIB. The majority of this amount was burned by Ethereum founder Vitalik Buterin in May 2021, when mysterious SHIB creator Ryoshi sent half of the quadrillion supply to Buterin as a sign of respect.

A total of 583,957,559,864,114 SHIB continue to circulate on the market now.