Shiba Inu Community Warned of New Scam Targeting the New SHIB Magazine Project

The Shiba Inu community has received a critical warning regarding a new scam linked to the newly-launched SHIB Magazine project seeking to drain investors’ wallets.

The alert came from Shibarmy Scam Alerts, a community-driven account that alerts community members of scams targeting the ecosystem. The warning emphasized the importance of vigilance and cautioned investors against falling victim to fraudulent schemes.

🚨SHIBARMY WARNING:🚨@X

Stay alert as scammers will stop at nothing to part you from your assets, they have even gone as far as to copy THE SHIB Magazine landing page and are requesting you to connect your wallet so they can drain it..

Only use links from our official sources,… pic.twitter.com/FntZcpzbM3

— Shibarmy Scam Alerts (@susbarium) November 13, 2023

Details of the Scam

According to Shibarmy Scam Alerts, scammers have replicated the landing page of The SHIB Magazine, attempting to deceive Shiba Inu enthusiasts into connecting their wallets before they can access the magazine. This tactic aims to drain users’ assets immediately they connect their wallets.

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The account urged investors to exercise utmost caution and exclusively use links from official sources from the ecosystem team. The alert emphasized the necessity of double-checking URLs before proceeding and advised against hastily connecting wallets without conducting thorough due diligence.

To combat the spread of the scam, Shibarmy Scam Alerts provided a specific URL associated with the fraudulent activity, urging users to report the site promptly. The provided link directs users to Google’s Safe Browsing platform, where they can report the malicious site.

Additionally, the alert encouraged community members to report any suspicious accounts on X that may be promoting scams. Specifically, the account “nathanmarchand4” was highlighted as potentially violating Twitter’s policy. 

The Shibarmy Scam Alerts message concluded with a heartfelt plea for the Shiba Inu community to stay vigilan. The emphasis on community safety underscored the shared responsibility of all members to contribute to a secure investment environment.

Shiba Inu Community Welcomes the SHIB Magazine

This warning comes at a crucial time as the Shiba Inu welcomes the SHIB Magazine project after much anticipation. The heightened anticipation surrounding such initiatives creates an opportune environment for scammers to exploit investor enthusiasm.

The SHIB Magazine launched last week with an aim to provide important updates and consolidated reports on the events and developments within the Shiba Inu community. Being a weekly publication, the second edition launched today, featuring Manny Pacquiao on the cover. 

Due to the increased interest among community members, some bad actors are now leveraging the launch of the magazine to steal from investors. This scam trend has continued to play out in the community, with malicious actors also targeting the TREAT and SHI tokens in a previous attempt.