Security

SHIB Lead Shytoshi Kusama Issues Crucial Warning to Community

Shiba Inu lead known under the pseudonym Shytoshi Kusama has sent a message to the SHIB community warning them to beware of scams to do with SHIB meme coin and its ecosystem.

From time to time Kusama and SHIB’s marketing expert Lucie emerge on Twitter/X with similar warnings as the crypto space is offers plenty of opportunities not only for investors but also for scammers and con artists.

This time, Shytoshi Kusama warned the community against falling for scams to do with KNINE token launched by the recently announced Shibarium’s partner in liquid staking K9 Finance DAO.

Only use official guys here. Lots of scammers!!! Pay attention. https://t.co/J40w3N4yLr

— Shytoshi Kusama™ (@ShytoshiKusama) March 7, 2024

Kusama also spread the word about a closer integration between the SHIB team and the team of the aforementioned K9 Finance. Shytoshi Kusama and Shiba Inu lead developer Kaal Dhairya have been appointed K9’s official advisors. K9’s tweet hints that this appointment is related to the aforementioned launch of the KNINE token on the Layer-2 solution Shibarium.

Great to work with the team to bring more power to Shibarium. Another win in this incredible month! https://t.co/igbsx8pFhJ

— Shytoshi Kusama™ (@ShytoshiKusama) March 7, 2024

Shibarium team teases large SHIB burns coming

The aforementioned SHIB team member Lucie has tweeted that by now the SHIB team has set aside a massive 40 ETH from transaction fees for making SHIB burns. This is the equivalent of slightly more than $3,390 and is worth a whopping 4,690,279,616 Shiba Inu meme coins.

The team started SHIB burns at the end of November and burned chunks that contained billions of SHIB since then and until February. Thus they destroyed approximately 36 billion Shiba Inu by transferring them to unspendable wallets.

In January, the SHIB team started testing an automated mode for burning Shiba Inu. Lucie did not name any particular date when the burn will take place but she just recommended the SHIB army to watch out for further announcements.

🔥 $SHIB burns incoming!

40 ETH collected for the burn. Stay tuned! 👀

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) March 8, 2024

Earlier this week, Lucie addressed the SHIB community on their frequent comments about the SHIB team allegedly doing nothing to increase burns.

In response to those, Lucie cited a message of the mysterious SHIB founder Ryoshi who disappeared from all the social media radars in 2022. Ryoshi advised those who is not happy with slow burns to start burning SHIB themselves.

So far, according to Shibburn, within the last 24 hours, the SHIB community has transferred a total of 48,209,535 SHIB meme coins out of the circulating supply with 42,466,919 SHIB being the largest chunk burned so far.

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