Shiba Inu Exec Issues Crucial Warning Against X Scammers

Amid the volatile cryptocurrency market, which has left investors cautious about losing funds, Lucie, the pseudonymous Shiba Inu (SHIB) marketing lead, has issued a crucial warning. In an update shared on the social media platform X, Lucie provided a cautionary message to protect the SHIB community and the broader crypto space.

Caution against get-rich-quick tokens

Lucie highlighted that a growing number of low-quality tokens launched by scammers are hitting the market with the intention of stealing investors’ funds. She noted that, given the current market downturn and increasing volatility, investors are more vulnerable to scams.

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The marketing executive warned users not to become emotionally driven to make decisions so as not to lose more funds. This implies that users should not believe that all projects promise huge returns without first researching.

“In these brutal market conditions, the only ones enjoying it are the malicious actors and clout chasers – milking lies just to monetize their platforms,” Lucie wrote.

While acknowledging that investors can take risks with their funds, the Shiba Inu executive maintained that such risks must be calculated to minimize losses.

She also insisted that as a community, the SHIB ecosystem has prioritized keeping users safe from “scams, chaos, and bots on X.” Lucie called on the crypto community to stay vigilant and avoid falling for scams, misleading promotions or low-quality projects.

More importantly, her message cautions against activities on X, which she tagged a “paradise for chaos.”

Shiba Inu maintains resilience in market rankings

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In a related development, Changpeng Zhao, the former Binance CEO, has also warned about artificial intelligence, AI-based deepfake hacking. He highlighted the dangers posed to the crypto market as malicious actors employ more sophisticated technology to defraud.

Meanwhile, despite market volatility, the Shiba Inu ecosystem has remained resilient as the 19th-ranked crypto asset by market capitalization. Litecoin has been unable to dethrone the meme coin, regardless of SHIB’s low performance in recent times.