Crypto.com Warns SHIB Community of Potential Risk After Linking to a Fraudulent TREAT Token Site

The Shiba Inu team, including the ecosystem leader Shytoshi Kusama, has cautioned the SHIB community of a potential risk resulting from a recent

The Shiba Inu team, including ecosystem leader Shytoshi Kusama, has cautioned the SHIB community of a potential risk resulting from a recent publication by the trading platform Crypto.Com.

Recently, Crypto.Com published a comprehensive beginner’s guide to the Shiba Inu ecosystem. The article covered the existing ecosystem tokens SHIB, Bone, and Doge Killer (LEASH) and the upcoming tokens TREAT and SHI stablecoin. It looked at these assets from their origins and unique use cases in the Shiba Inu ecosystem.

Furthermore, the Crypto.Com article explored other components of the Shiba Inu ecosystem, including the native blockchain Shibarium, the ShibaSwap exchange, the SHIBOSHIS, which are Shiba Inu NFTs, and the ecosystem games Shiba Eternity and SHIB: The Metaverse.

Moreover, the publication touched on the Shiba Inu community as well as members’ efforts in promulgating the SHIB story. Considering the all-encompassing nature of the article, it garnered praise from the Shiba Inu team.

“A fantastic beginner’s guide to our ecosystem,” Shiba Inu’s official X account remarked on the publication.

Major Flaw Detected

Meanwhile, community members soon discovered a major oversight in the article that poses a risk to unsuspecting individuals. Shibarmy Scam Alerts disclosed that the article linked to a TREAT token site not associated with the Shiba Inu team, which is likely a fraudster-created website.

Shiba Inu’s official X account confirmed the oversight in a follow-up update. As a result, they advised community members to carefully verify each link before clicking. Additionally, the team mentioned they would be reaching out to Crypto.Com to correct the error and ensure the safety of readers.

🚨 Attention @cryptocom account shared the wrong link for the $TREAT token. Please verify links before clicking.

We're reaching out to them to fix this ASAP. Stay #shibsafe! https://t.co/HLgbSolMtM

— Shib (@Shibtoken) July 21, 2024

Shiba Inu Lead Reacts

Likewise, Shiba Inu’s pseudonymous leader weighed in on the development. He lamented that Crypto.Com wrote about the yet-to-launch TREAT token, assuming it is live erroneously.

Accordingly, Kusama urged community members to proceed with caution. Moreover, he highlighted the presence of parodies created to scam people, warning the SHIB community to remain vigilant.

Correct. Sadly @cryptocom wrote about our TREAT token that is not yet launched, assuming incorrectly that it was.

Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you). #DYOR https://t.co/bkSZVbSfOu

— Shytoshi Kusama™ (@ShytoshiKusama) July 21, 2024

At press time, The Crypto Basic observes no links embedded to mentions of TREAT in the article, suggesting Crypto.Com may have corrected the initial misstep.

Treat Token Launching

Significantly, in the coming months, the TREAT token is expected to launch alongside a Shiba Inu layer-3 blockchain that is still under development. To prevent scams from emerging before the official launch, the Shiba Inu team has refrained from disclosing the name of the upcoming blockchain.