Scam Alert: SHIB Team Did Not Create UNLEASH Token – SHIB Army Beware

Twitter account Shibarmy Scam Alerts (@susbarium) has announced that it had spotted another scam token that says it is related to the Shiba Inu ecosystem and its Layer 2 blockchain Shibarium.

The tweet says that the deployer of this token has nothing to do with the developer team of Shiba Inu and told all SHIB fans to stay away from scam tokens or those that claim to belong to SHIB.

🚨SHIBARMY WARNING:🚨

We have not created the token UNLEASH(UnleashClub) <= It was created by (Shiba Inu: Deployer 1 0xA221af4a429b734Abb1CC53Fbd0c1D0Fa47e1494) which has nothing to do with our SHIBA INU DEV TEAM

Keep safe.. pic.twitter.com/tMbjlRofHV

— Shibarmy Scam Alerts (@susbarium) July 17, 2023

Here's why UNLEASH might be mistaken for Shibarium token

The resemblance here is that Shibarium has a token called Doge Killer (LEASH), so SHIB fans could be misled by the similarity between the names of these tokens. The UNLEASH meme coin has its own website, which describes it as an "open-source crypto squad that brings you the dankest AI tools, mind-bending models, and mind-blowing datasets to take your crypto adventures to the next level." Basically, the website does not say anything about Shibarium and their relationship.

Aside from SHIB and LEASH, Shibarium has two other meme coins — BONE and TREAT.

Shytoshi Kusama, the leader of the SHIB developers who created Shiba Inu under the supervision of Ryoshi and is now working on Shibarium, provided a detailed explanation of how these tokens would function and what they will be used for. He responded that SHIB will govern the Shiba Inu community, BONE will govern and provide support to the technology the community is based on and LEASH is about community protection and for providing exclusivity. Finally, TREAT will govern and enhance projects built by the community on Shibarium.

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Shibarium beta surpasses new milestones

Shibarium beta version was released on March 11, and since then, it has been quickly surpassing big milestones related to utility by three major metrics: the number of transactions performed, the number of wallets connected and the number of blocks created on this beta blockchain, called Puppynet.

Now, Puppynet, according to the Puppyscan explorer, has smashed a big new milestone related to transactions conducted on Shibarium. The total transaction count is now equal to 30,271,108. The total amount of blocks created constitutes 1,729,522, while the total number of connected wallet addresses comprises 17,062,135.

SHIB burn progress goes big

According to data shared by the Shibburn tracker, within the last 24 hours, the SHIB community has gotten rid of 91,668,357 Shiba Inu meme coins in total. This comprises a growth of a whopping 7,329.72% compared to the previous day.

The two largest burn transactions carried 48,855,841 SHIB and 13,946,912 SHIB 20 and 19 hours ago, respectively. They were made from the same wallet ending in -e3bdc6.

Over the past seven days, however, this time, the SHIB army transferred an entire 915,371,832 SHIB to dead-end wallets, relieving the circulating supply of this meme token by nearly one billion meme coins.