The security group Susbarium reported on fake Shibaswap websites tricking users and stealing their cryptocurrency.
Threats from Fraudulent Shibaswap Platforms
On March 18, Susbarium, also known as Shibarium Trustwatch, warned users about scammers creating fake Shibaswap websites. These sites are designed to trick users into connecting their wallets, providing scammers unauthorized access to their funds.
How to Avoid Shibaswap Scam
Fake Shibaswap scams often involve small changes to URLs, making them appear legitimate. Users should verify URLs before connecting wallets, as the only official site is shibaswap.com. Bookmarking a trustworthy site helps prevent accidental visits to fraudulent ones.
Tips to Protect Your Assets
Tools like Scam Advisor and Scam Sniffer help determine site authenticity. Protecting wallet seed phrases is critical, as legitimate platforms will never ask for this information. Sharing it with unverified sources can result in a total loss of funds.
Crypto investors must exercise caution and adopt best security practices to protect their digital assets against increasingly sophisticated phishing scams.
