The “ShibArmy Scam Alerts” account on the social media site X/Twitter has addressed the subject of Shibarium security, referring to it as “the most significant issue” facing the cryptocurrency industry as a whole at the moment. The post specifically mentions cryptocurrency frauds. The tweet clarified that the piece was not discussing phishing websites or rug pulls, as those are rather blatant forms of fraud.
Instead, it was a reference to fraudulent schemes that use deceptive advertising to con unsuspecting investors out of their money. A set of guidelines that should be adhered to in order to prevent falling for this kind of scam is included in the tweet.
https://x.com/susbarium/status/1740657463005721053?s=20
Here’s how not to be deceived by Shibarium-based scammers
The “ShibArmy Scam Alerts” account highlights how crucial it is to be educated first and foremost. This implies that one must “do your own research,” or “DYOR,” as it is known in the bitcoin industry. This requires reading the project’s white paper and comprehending the details of the cryptocurrency assets you are purchasing, such as the quantity in total supply, if the contract is revoked, whether you can find online information about the development team, and their reputation. The tweet notes that although this data might be fabricated, “that’s often not the real reason to feel safe” if the devs are “doxxed.”
Additionally, it is advised by “ShibArmy Scam Alerts” to carefully examine any media coverage of the project in issue and determine whether or not it is being sponsored by the initiative. The anti-scam account then advises you to make sure the project has adequate support and that Discord/Telegram groups are populated by actual individuals who are discussing and exchanging ideas about it rather than just being promotional platforms.
The tweet claims that if investors purchase any cryptocurrency without DYOR, they would be accountable.
It also serves as a reminder to the cryptocurrency community that, if a bull run gets underway—and many anticipate one very soon—token values may rise stratospheric for no discernible cause and then collapse for no apparent reason, which might be puzzling to novice investors.
Nonetheless, one may prevent being conned by conducting thorough research and staying up to date on the latest information on the investment opportunities they have selected.
