A cautionary alert has been issued by Shiba Inu’s lead developer, DaVinci, to the community members regarding a scam attack related to the TREAT token, a native token of SHIB.
Discovery of Fake TREAT Token
A member of Shiba Inu, ‘Digarch,’ shared a scam alert from DaVinci on X platform and urged the SHIB Army to remain cautious. DaVinci expressed concerns about fraudulent tokens falsely claiming affiliation with SHIB ecosystem and warned about a fake TREAT token listed on platforms like CoinMarketCap and CoinGecko.
The developers warned that these deceptive activities have evolved, moving from misusing Ryoshi Research channels to unauthorized use of Shiba Inu State and Canine code. These scammers have even incorporated the official SHIB website address into their fraudulent schemes.
DaVinci clarified that the legitimate SHIB native token, TREAT, has not been launched yet. Any tokens purporting to be TREAT or associated with it are fraudulent and could lead to financial losses for investors.
Due to the decentralized nature of ShibaSwap, banning fake TREAT tokens is challenging, but efforts are ongoing to denounce these malicious actors and protect the community.
Overview of the Legitimate Shiba Inu TREAT Token
The real TREAT token is part of SHIB’s utility tokens, designed to enhance liquidity for SHI stablecoin and serve as a reward token on ShibaSwap exchange. Contrary to rumors, the official TREAT token has not been launched yet, as confirmed by the lead marketing member, Lucie. Community members are advised to verify information from official sources to avoid falling prey to scams.
