Shiba Inu, the cryptocurrency that was created as an alternative to Dogecoin, has been targeted by fraudsters who are impersonating lead developer Shytoshi Kusama on Twitter.
The scammers are attempting to lure unsuspecting users into participating in a fake rewards program, claiming that there are "TONS of unclaimed rewards" for those who hold BONE, SHIB, LEASH, and other related tokens.
The scam tweet states that the Shibarium Beta private access is still live and encourages users to take a few minutes to participate in order to become eligible for rewards.
Once users are convinced of the legitimacy of the tweet, they may be prompted to provide personal information or access to their digital wallets. This would allow the scammers to steal their cryptocurrency holdings, including BONE, SHIB, and LEASH tokens.
Here’s how to avoid such scams
To avoid falling victim to such scams, users should be cautious when interacting with unverified accounts on social media platforms like Twitter.
It is essential to verify the authenticity of the source before providing any personal information or access to digital wallets.
Kusama’s actual Twitter account doesn’t contain any information about Shibarium-related rewards.
The actual Shibarium beta did launch earlier this March, but the scam tweet is not associated with the legitimate project. The launch of the Shibarium beta marked a significant milestone for the ecosystem of the meme cryptocurrency since it aims to provide a scalable and efficient solution for the growing number of users.