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Shiba Inu developer warns of scams

Scam tokens attempting to spoof "Shiba Inu: Deployer"

A leading Shiba Inu developer has warned of a fraudulent code that is trying to share their funds with unsuspecting victims.

Cal Daeria, one of the leading Ethereum developers, issued a warning about scammers trying to impersonate a Sheba Inu developer in a recent blog post.


Darayya spotted a contract designed to spread malicious events, to conceal information about the actual sender and receiver. In this way, it becomes possible to link the cryptocurrency to well-known wallets.

Shiba Inu developer warns of scams


Dareya said this ploy can be used either for clever marketing or to deceive potential victims. Scammers often abuse the ERC20 approval function to steal funds from other users through the use of cryptocurrencies.

In the blog post, Daiya urged Shiba Inu users to keep track of official ads so as not to fall victim to suspected scams.


It is worth noting that after the rise in popularity of Shiba Inu last year, many scammers have tried to exploit its popularity.


Last November, the developer team, the creator of the Sheba viral coin, warned investors that they would be a target for scammers. The team emphasized that it does not offer any souvenirs, gifts or airline tickets, which is why such offers are such a big warning sign.


Blockchain security firm PeckShield also discovered Shiba Inu cryptocurrency allegedly issued on the Tron blockchain, as the fictitious cryptocurrency was a magnet scam, meaning its smart contract features a mechanism that prevents buyers from selling.