Cryptocurrency fraudsters impersonated Shiba Inu developer on Twitter to steal users' funds

Another crypto fraud scheme has been reported: fraudsters impersonated Shiba Inu’s chief developer, Shitoshi Kusama, on Twitter to steal users' funds. This happened amidst the excitement of the upcoming full launch of the second-level blockchain Shibarium.

The fraudsters tried to attract users' attention by advertising a fake reward program. Allegedly, Shitoshi Kusama claimed that holders of BONE, SHIB, LEASH, and other related cryptocurrencies would be able to receive a huge amount of crypto bonuses. The main condition is to follow the link and register.

Each user had to provide personal information and link their cryptocurrency wallet to receive rewards — a standard fraudulent scheme. The user’s consent to the smart contract when connecting the wallet gave the fraudsters full access to the victim’s funds. According to analysts, the attackers managed to steal users' digital assets, including BONE, SHIB, and LEASH. The exact amount of investor losses is currently unknown.

Blockchain security experts have once again emphasized: «In order to avoid becoming a victim of crypto fraud, you need to be careful when interacting with unverified accounts on social media such as Twitter. It is important to verify the authenticity of the source before providing any personal information or access to digital wallets.»

Regarding the launch date of the Shibarium project, a few days ago, in a dialog with the community, Shitoshi Kusama mentioned «next week,» which users took as a hint of the upcoming launch of the network’s beta version. Shibarium is a second-level blockchain that is supposed to reduce transaction costs and add new features to the Shiba Inu project.