Scam Alert Issued To Shiba Inu Community Amid Rising Token Burns

According to U.Today, a warning has been issued to the global Shiba Inu (SHIB) community by the 'Shibarmy Scam Alert' account on the X platform. The alert comes in response to an increase in scammers impersonating SHIB development team members. A recent case involved a social media account on Telegram impersonating Kaal Dhairya, a top SHIB developer. The scammers' objective is to mislead users by providing false information, directing them to fake websites, and obtaining personal details for malicious use. The 'Shibarmy Scam Alert' account emphasized the importance of staying connected with official team members. It also reminded users that no one from the official SHIB team would ever contact them via direct messages or ask them to link their wallets or provide personal information. Two days prior, the same source issued another scam alert about the much-anticipated TREAT token. This token is expected to power the layer-3 solution once it is built on the Shibarium blockchain and launched. The alert was a reminder that the SHIB team has not officially released TREAT, despite contrary claims. The 'Shibarmy Scam Alert' account advised the SHIB community to avoid any transactions or investments related to TREAT until its release is confirmed by legitimate sources. In other news, the Shibburn account reported a significant increase in the SHIB burn rate. Over the past 24 hours, the burn rate has risen by 19.64%, with a total of 5,862,502 SHIB tokens transferred to unspendable blockchain addresses, effectively removing them from the circulating supply. The two largest burns were 3,285,122 and 1,010,509 SHIB. To date, a staggering 410,726,111,151,270 SHIB tokens have been burned by the SHIB team and users. Shiba Inu developers have contributed to the burning of several billion meme coins this year and at the end of 2023.