A new fraud coin purporting to be associated with the Shiba Inu ecosystem and its Layer 2 blockchain Shibarium has been discovered, according to the Shibarmy fraud Alerts Twitter account (@susbarium).
The tweet warns SHIB followers to avoid scam tokens and those that falsely claim to be affiliated with SHIB, claiming that the deployer of this token has no connection to the Shiba Inu development team.
Here’s why UNLEASH might be mistaken for Shibarium token
SHIB fans may be deceived by the similarities between the names of these tokens because Shibarium has a token with the name Doge Killer (LEASH). On its own website, the UNLEASH meme currency is referred to as a “open-source crypto squad that brings you the dankest AI tools, mind-bending models, and mind-blowing datasets to take your crypto adventures to the next level.” In essence, the website says nothing about Shibarium and their connection.
Shibarium includes two additional meme coins in addition to SHIB and LEASH: BONE and TREAT.
The leader of the SHIB developers, Shytoshi Kusama, who developed Shiba Inu under Ryoshi’s supervision and is currently working on Shibarium, gave a thorough description of how these tokens would work and what they would be used for. The Shiba Inu community will be governed by SHIB, the technology upon which the community is built will be governed and supported by BONE, and community protection and exclusivity will be provided by LEASH, he said. Finally, TREAT will oversee and improve the projects that the Shibarium community has created.
Shibarium beta surpasses new milestones
Shibarium’s beta version was made available on March 11 and has since surpassed significant utility benchmarks in three key metrics: the volume of transactions processed, the number of wallet connections, and the volume of blocks produced on Puppynet, the beta blockchain.
According to the Puppyscan explorer, Puppynet has now achieved a significant new milestone in relation to transactions made on Shibarium. 30,271,108 transactions have now been made in total. There have been 1,729,522 blocks produced overall, however there are 17,062,135 associated wallet addresses.
SHIB burn progress goes big
The SHIB community has sold 91,668,357 Shiba Inu meme coins overall in the previous 24 hours, according to statistics provided by the Shibburn tracker. This represents an enormous increase over the previous day of 7,329.72%.
20 and 19 hours ago, respectively, the two biggest burn transactions contained 48,855,841 SHIB and 13,946,912 SHIB. They were created from a single wallet with the ending -e3bdc6.
However, during the last seven days, the SHIB army moved a total of 915,371,832 SHIB to dead-end wallets, reducing the amount of this meme token that was in circulation by over one billion meme coins.
