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- Fake Kusama accounts with around 13.8K Twitter followers have encouraged Shiba Inu, $BONE and $LEASH holders to link their wallets with the provided phishing links.
- The Shiba Inu Ecosystem anticipates the launch of the public beta of Shibarium before the end of this week.
The second largest meme coin by market cap, Shiba Inu (SHIB), is preparing for the Shibarium network, a layer 2 (L2) scaling solution to help more Web3 users. In a February 26 blog post, lead Shiba Inu developer Shytoshi Kusama announced the launch of the new Shibarium website and Web3 intake system. However, Kusama reminds Shibarmy that all tokens and products last Shibarium beta is for testing purposes. As a result, no one should be tricked into purchasing tokens during the Shibarium public beta until the mainnet is launched.
During the beta, all tokens and products on the beta network are for testing purposes ONLY. Don’t be fooled and buy whatever you find on Shibarium until the main Shibarium network launches,
Shibarmy warns of Shibarium’s deception
The well-known Shibarmy account on Twitter has claimed that all of their SHIB token holdings were stolen through a Shibarium redirect by an account posing as Shytoshi Kusama. Fake Kusama accounts have changed some of the initials to confuse the Shiba Inu community via click bait.
🚨WARNING $SHIB FAMILY. I just stole all my SHIB with a #Shibarium redirects and iframes! Don’t be stupid like I was. They bought link redirects because of a typo. I connected my wallet. WATCH OUT! ALWAYS Check the link before connecting!
THIS IS THE DIFFERENCE I HAVE BEEN!… https://t.co/JYpiabQYNY pic.twitter.com/82hBqyYJmA— Shib Dream * Shiba Inu News * Shib Army Social 💎 (@theshibdream) March 8, 2023
Fake Kusama accounts with around 13.8k followers have encouraged Shiba Inu, $BONE and $LEASH holders to link their wallets with the provided phishing links. Notably, Kusama’s official account has over 902.3k Twitter followers, with a Shibarium intake form tweet embedded on top of it.
Shibarmy has been advised that the public beta of Shibarium is primarily for developers to fine-tune the product before the mainnet launch. Thus, all tokens on the Shibarium public beta have no monetary value.
#ShibArmy
Since #Shibarium Beta is just around the corner, remember this.MAJOR BETA FOR #DEVELOPER.
DO NOT BUY ANYTHING IN SHIBARIUM BETA.
DO NOT TRANSFER TOKEN TO SHIBARIUM BETA.
TEST BETA TOKENS HAVE NO MONETARY VALUE.#take care pic.twitter.com/OE8Qtn4bWP
— SHIB INFORMER (@ShibInformer) March 9, 2023
Bigger picture
The Shiba Inu Ecosystem anticipates the launch of the public beta of Shibarium before the end of this week, according to a recent announcement. As a result, the Shibarium beta and Shiba Inu ecosystems are trending on social media platforms. Additionally, several Web3 protocols, including PawSwap, are preparing to be rolled out in the Shiba Inu ecosystem via the Shibarium network.
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The Shiba Inu ecosystem boasts over 1.3 million holders, according to on-chain data provided by ethplorer. With a market cap of around $6,015,571,193.45, the Shiba Inu is reported to have a 24-hour trading volume of around $441 million. The Shiba Inu ecosystem has burned about 41 percent of the circulating supply, equivalent to approximately 410,336,986,470,229.06 SHIB.
More Shiba Inu token burning is expected after the launch of the Shibarium mainnet. In addition, on-chain activity will increase significantly after the Shibarium mainnet as more Web3 users are onboard.
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