Shiba Inu Team Issues New Warning to SHIB Holders Regarding Emergence of New L2 Solutions

Shiba Inu Team Issues New Warning to SHIB Holders Regarding Emergence of New L2 Solutions

Time Stamp: January 27, 2024 5:19 AM
Source Node: 2458979

DaVinci, the admin of the Shibarium Telegram and Discord channels, has issued a critical warning to Shiba Inu community members as part of efforts to keep them safe. 

The team member took to the Shibarium Discord channel to alert SHIB holders about the emergence of new L2 solutions that claim to be affiliated with Shiba Inu. 

DaVinci said such a move is a phenomenon that has been around for a while in the Shiba Inu ecosystem. He recounted how certain decentralized exchanges like Bonerium, Dogpad, and Shibachain also adopted a similar pattern in the past. 

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However, these illicit decentralized exchanges have since vanished, with the malefactors behind the projects resorting to rebranding attempts and potential scams. 

Emergence of New L2 Solutions

Specifically, DaVinci highlighted the launch of new Layer-2 projects like Ryoshi and Bark. He expressed skepticism about these projects, particularly their sudden appearance and lack of prior visibility. 

Consequently, he warned Shiba Inu community members to exercise caution and conduct due diligence before interacting with these projects. 

“Make your own informed decisions and conduct thorough research, but exercise caution in this rapidly changing landscape,” he added.   

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Notably, DaVinci’s latest warning was shared on the X platform by Shiba Inu ecosystem team member RagnarShib. 

Shiba Inu Warns Community of Potential Scam 

Interestingly, the Shiba Inu ecosystem team has always called SHIB holders’ attention to potential scams. The rationale behind these warnings is to prevent unsuspecting investors from being victims. 

In a recent tweet, @susbarium (Shibarmy Scam Alerts), the official X handle dedicated to exposing scams targeting Shiba Inu enthusiasts, issued a critical warning to SHIB holders. 

The X handle warned SHIB holders to be wary of a fake Telegram group that claims to be affiliated with K9 Finance. For context, K9 Finance is an upcoming decentralized finance protocol on Shiba Inu’s L2 solution Shibarium. 

In the tweet, the team warned Shiba Inu community members not to send funds to any address provided by the fake Telegram group, emphasizing that K9 has ended the presale of its native token. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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