Shiba Inu Developer Has Scam Alert Issues

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Alex Dovbnya

One of the leading Shiba Inu developers has warned about a scam token that tries to give unsuspected victims their money

Kaal Dhairya, one of the leading developers of Shiba Inu, has warned in a recent blog post about scammers trying to counterfeit the “Shiba Inu: Deployer”.

Dhairya has discovered a contract designed to broadcast malicious events, obscuring information about the actual sender and receiver. In this way it became possible to associate the cryptocurrency with well-known wallets.

The developer says that such a trick can be used for clever marketing or to scam potential victims. Fraudsters regularly abuse the ERC20 approval feature to steal money from other users using mock tokens.

In the aforementioned blog post, Dhairya has urged Shiba Inu users to keep up with official announcements so as not to fall victim to dubious scams.

After Shiba Inu gained huge popularity last year, many scammers have tried to capitalize on its popularity. Last November, the team of developers behind the viral meme token warned investors that they were being targeted by scammers. They emphasized that the team does not offer giveaways, gifts or airdopros, which is why such offers are a big red flag.

In February, blockchain security firm PeckShield discovered a fake Shiba Inu token purportedly issued on the Tron blockchain. The fake cryptocurrency was a honeypot scam, meaning the smart contract contained a mechanism that prevented buyers from selling.

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