Developers Beware: Shibarium Exec Issues Stark Warning

Shiba Inu’s official marketing expert LucieSHIB, has issued a warning to the members of the public about the possibility of getting exploited on Shibarium, the much-awaited Ethereum (ETH) Layer-2 scaling protocol. 

While the blockchain is designed to change the “world” by returning it to decentralization, per a recent statement from Shiba Inu lead developer Shytoshi Kusama, it also comes with some drawbacks.

Shibarium is Susceptible to Attacks

Just like other blockchains including Polygon (MATIC) and Ethereum (ETH), Shibarium is open to anyone to build on but at the same time, this makes it susceptible to attacks. Bad actors could leverage the platform to exploit Decentralized Applications (DApps) built on the L2 network or even deploy rugpull tokens.

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

— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 16, 2023

Users are expected to be vigilant and cautious as some of these bad actors may go as far as incorporating the term ‘Shibarium’ or ‘Shib’ in their name or their project titles. Notably, the mere addition of these monikers does not make them credible, according to the Shibarium tech marketing strategist. 

Instead, Lucie provided a guideline to help keep users safe when using Shibaruum and mitigate their exposure to phishing links and scams. To ensure that they are communicating with the right protocol or entity, users are encouraged to delve into their Telegram or Discord channels. Once in, they should “gauge the community’s atmosphere, scrutinize their social media posts and check Etherscan.”

The team member insinuated that prioritizing users’ safety is core for the team but users would also be required to play their path.

Shiba Inu Sentiment Boosted

Meanwhile the launch of the Shibarium upgrade is still expected with much confidence from investors. The Shiba Inu token has benefited tremendously from the expected launch of the Layer-2 scaling solution. While SHIB has been down in the last 24 hours, the token has recorded up to 19% price surge in the last two weeks.

At the time of this writing, SHIB was trading at $0.000009739, gradually inching towards losing one of its zeros again. The token had previously broken resistance at $0.00001 and reached new August highs of $0.00001136.