Be Vigilant: Shiba Inu (SHIB) Investors Must Be Aware of This Perilous Fraud

The Shiba Inu ecosystem has been targeted by scammers exploiting its newly launched platform, HypeIt. The fraudulent accounts have been promoting unrelated tokens while masquerading as Shiba Inu supporters. They have misused the branding and logos of Shiba Inu and the SHIB-associated meme coin, TREAT, to trick users.

The ecosystem's users are urged to rely only on information from official Shiba Inu sources and do their own research. In addition, the same source flagged a scam involving emails impersonating the Coinbase Compliance team, a US-based cryptocurrency exchange. These fraudulent emails prompt users to verify their personal account information, potentially leading to theft of personal data.

This warning followed a recent hacking attack on Coinbase, affecting nearly 70,000 people and reportedly resulting in a $400 million loss.