- Shiba Inu team warns of potential fraud apps popping up from Shibarium.
- The team emphasized the place of research in thwarting falling prey to fraudsters.
- Around $2 million worth of ETH is locked within Shibarium.
Amid the recent launch of Shibarium, the Shiba Inu scaling solution, a representative of the ecosystem took to X to issue a warning of potentially fraudulent behavior around Shibarium.
In particular, Lucie, Shiba Inu‘s content marketing specialist, tweeted that Shibarium is open to development like other prominent blockchains such as Polygon (MATIC) and Ethereum (ETH). However, she noted that such open access comes with a significant security risk for the crypto community.
Lucie highlighted that bad actors can build fraudulent Shiba Inu-theme apps on Shibarium to defraud unsuspecting people.
Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regrettably, this also provides an avenue for bad actors to develop scam dApps and rug-pull tokens, among other things.The mere incorporation of the term "Shibarium" or "Shib" in… pic.twitter.com/AiNqORi7J2—