The Shiba Inu (SHIB) team warns of increasing scams exploiting Ryoshi's name and urges users to be vigilant.
Scams in the SHIB Community
Shibarmy Scam Alerts (the X account focused on protecting SHIB users from various threats) warned of a rising number of bad actors who misuse the name of Ryoshi to attract attention and thus deceive members within the ecosystem. Ryoshi is considered the pseudonymous founder of Shiba Inu, and their identity remains unknown.
Ryoshi’s Successor
The popular meme coin Shiba Inu (SHIB) was launched by an anonymous person or group of people using the pseudonym Ryoshi. The project was created as an experiment in decentralized community building but witnessed massive success in the following years. Currently, SHIB is among the top-trending cryptocurrencies, with a market capitalization of approximately $7.8 billion. Ryoshi did not stay in charge for long, passing the leadership to another anonymous developer using the nickname Shytoshi Kusama. The latter took part in an interview in August, wearing a mask and having their voice modulated. They stated that they don’t aim to reveal their identity, maintaining that the power of SHIB is not based on a few individuals. Kusama further promised to step away by the end of the year and hand control over to the community, doubling down on the vision for true decentralization in the crypto space.
The SHIB team emphasizes the importance of vigilance and caution in the community. Users should always verify information through official channels and immediately report any fraud or misuse of Ryoshi's name.
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