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HomeBlogShiba Inu Coin Is Under Attack And Experiencing Unusual Activity

Shiba Inu Coin Is Under Attack And Experiencing Unusual Activity

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  • Shiba Inu, the once popular coin, is currently facing a scam attack by Pawswap.
  • As a result, the community officials urged the Shib community to avoid Pawswap, which he referred to as a scam or shitcoin, and to safeguard the ecosystem from these kinds of activities. 

Over the past two days, the volume of transactions on Shibarium, the blockchain connected to the Shiba Inu cryptocurrency, has increased dramatically. Shibariumscan data shows that since the previous Thursday, the number of transactions has more than doubled, rising from a high of 88,630 to a startling 177,050 transactions in the past day alone. 

The total number of transactions that passed through the blockchain during this time, as a result of this increase, reached an astounding 420,000.

Shiba Inu’s Unusual Activity

The community is still optimistic that its collective resilience will help the Shibarium ecosystem fend off these malicious actors and protect the network’s integrity as it deals with this developing issue.

The Shiba Inu community is dealing with the thrilling increase in Shibarium transactions as a result of this unexpected change of events, which has called for more vigilance. Undoubtedly, the rapid growth of Shibarium and the community’s fortitude in the face of adversity have drawn the attention of SHIB supporters. 

More About Scam

It has been targeted by scammers linked with the Pawswap project. The issue was revealed by the project’s chief administrator, known as DaVinci in the community. These fraudsters have been impersonating the actual PawZone (PAW) initiative, which is a well-established company, to deceive new blockchain users.

A member of the Shibarium tech team released a screenshot of the admin warning of a scam project set to be deployed on the layer-2 network in a tweet on the X. Pawswap allegedly exploits the community to generate fear, uncertainty, and doubt (FUD) about the network, in addition to promoting these attacks. 

As a result, the community officials urged the Shib community to avoid Pawswap, which he referred to as a scam or shitcoin and to safeguard the ecosystem from these kinds of activities. 

Meanwhile, Digarch, who provided the screenshot, explained that Pawzone was not the same as Pawswap, as mentioned by DaVinci, and that Pawzone was the team behind the NFT marketplace. 

Conclusion

While there are no guarantees that Pawswap is legitimate or a scam, as DaVinci claims, it is critical for the community to constantly do their research. 

This is something that Shibarium’s head office developer, Shytoshi Kusama, has constantly stressed in network updates when discussing the inflow of tokens and projects into the Shibarium ecosystem.

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