The passionate community of Shiba Inu (SHIB) faces a new threat as scammers attempt to take advantage of the cryptocurrency’s popularity. Scammers have recently exploited the trust of SHIB holders and found a way to steal their funds. But how are they doing it?
Beware of Phishing Attacks Targeting Shiba Inu Holders
ShibArmy Scam Alerts, a Twitter account that exposes scams, warned the Shiba Inu community about a new scam using phishing attacks. Scammers send out fraudulent emails, purporting to be from Metamask, that inform recipients that their wallets have been disabled and instruct them to update them by a specified deadline. However, these emails are fake and designed to steal their funds. Recipients should ignore them and remain vigilant against fraudulent schemes.
The community is urged to exercise caution and refrain from clicking on any links from suspicious sources. By adopting proactive measures, SHIB holders can significantly reduce the risk of falling victim to this type of fraud.
Image: KardiaChain Blog
Large-Scale Crypto Scam Targeting Crypto Holders
Cybersecurity experts have discovered a crypto operation by a group known as Impulse Team, believed to be based in Russia, targeting unsuspecting victims. They send SMS messages or email notifications falsely informing people that they have won a cryptocurrency giveaway by a trading company. To claim their reward, recipients are promised approximately 0.7 BTC, equivalent to around $18,000, but must deposit 0.01 BTC, approximately $250, to “activate” their account. The researchers estimate the victims have collectively lost around $5,000,000 by falling victim to this elaborate scam. Initially, the researchers identified a single website associated with this fraudulent scheme. However, upon further investigation, they uncovered thousands of cryptocurrency sites linked to the scam.
Shiba Inu market cap slightly below the $4 billion level. Chart: TradingView.com
Featured image from The Crypto Basic
