Shiba INU Team Warns Investors About Coinmarketcap Listing of Fake Shib Addresses

The team behind the shib token has expressed disappointment at the listing of fraudulent shib smart contract addresses by Coinmarketcap.

Th Shiba INU team has lashed out at Coinmarketcap, the coin-listing platform for listing fake shib smart contract addresses.
In a tweet from the official Shib Tweeter account titled: Official Statement regarding the recent actions by @CoinMarketCap, the Shiba INU team wrote that Coinmarketcap intentionally listed the fake shib addresses and warned investors to be wary of the 3 fake shib smart contract addresses that are hosted on BEP20, Solana or Terra adding that these addresses are not safe to use.

The team statement regarding the listing further warned investors against interacting with the fake addresses:
DO NOT INTERACT WITH THESE CONTRACTS
DO NOT PURCHASE SHIB FROM THESE ADDRESS AS YOUR FUNDS WILL BE IRREVERSIBLY LOST

Reacting to the allegation, the Coinmarketcap team responded to the Shiba INU team in a tweet, stating that the non-ETH smart contract address is a fake.

Please note that the non-ETH contract addresses on this page @shibtoken
are wormhole addresses, which are designed to facilitate cross-chain transactions of wrapped versions of this asset

No one knows for sure why the Coinmarket team listed the 3 fake addresses. What could be damaging to the reputation of the platform is that the Shiba INU team also alleged that efforts to reach them was rebuffed thereby allowing malicious actors to “vandalize our listings”
They also stated that they are working to ensure that the malicious listing is corrected promptly.

Shib has been one of the high-performing tokens in the past few months. The meme coin has attracted a lot of investors and it is no surprise that fraudsters would target the project as they would normally do with successful projects. The shib token is currently ranked 13 according to market capitalization, which is presently $17,096,051,535.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.