Lucie, the marketing lead for Shiba Inu (SHIB), has issued a warning to the crypto community about rising scam risks amid market volatility.
Warning About New Tokens
Lucie noted that with increasing market volatility, more new tokens are being created to defraud investors. These projects often rely on hype and misleading promotions to attract funds from unsuspecting users.
> "Of course we’ll see a new token launched every other day. New devs, same old shill gangs," she emphasized.
SHIB Maintains Market Position
Despite the overall turbulence in the crypto market, Shiba Inu remains the 19th ranked cryptocurrency by market capitalization. According to recent data, 128.99 trillion SHIB tokens are currently held by 45 investor-class wallets, controlling between 0.1% and 1% of the token’s circulating supply.
General Risks and the Need for Caution
Lucie also highlighted the importance of basic security practices: "Always double-check websites," she advised. This warning comes amid other alerts across the crypto industry, including concerns regarding the risks associated with deepfake videos and other AI-driven fraud tactics.
Lucie's concerns about fraud highlight the need for vigilance and caution among participants in the cryptocurrency market, especially amid instability.
