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2 years ago

Shiba Inu Team Warned of Misleading SHIB Addresses on CoinMarketCap

George Georgiev Jan 16, 2022 18:45
The team behind the meme coin has alerted investors that CoinMarketCap has knowingly listed three fake SHIB addresses. 

According to a tweet sent from the verified Shiba Inu Twitter account, CoinMarketCap intentionally listed 3 fake smart contract addresses of SHIB.

  • The team, therefore, warned that these addresses found on the Binance Smart Chain, Solana, and Terra are not safe to use.
  • Going even further, the team warned users not to interact with these contracts and not to purchase SHIB from them because the “funds will be irreversibly lost.”
  • Shiba Inu’s team also argued that CoinMarketCap “has refused to communicate with the SHIB team on updates to the token page and willingly allowed malicious actors to vandalize our listing”
  • Responding to the allegation, CoinMarketCap acknowledged that it actually listed three SHIB addresses. However, the platform argues that these are not malicious addresses but rather for the wrapped asset instead:

For the avoidance of doubt, the addresses are not malicious. There is precedent for just o publish the contract addresses for wrapped assets because it would ultimately streamline the user experience and facilitate cross-chain transactions.

  • The team at CoinMarketCap also invited the Shiba Inu team to reach out through “the official channels,” linking to a support page.
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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn