The #ShibaInu community has just issued an alert regarding a "scam" project that may be behind some of the FUD attacks that have dogged the Shibarium network since its launch on August 16.
Admin Of Shibarium Warns Of Fraud Project
A member of the #Shibarium tech team by the handle Digarch released a screenshot of the admin warning of a scam project that was going to be implemented on the layer-2 network in a tweet on the X (previously Twitter) platform. The bogus project "Pawswap" is what funds attacks on Shibarium, said DaVinci, the Shibarium tech admin.
Pawswap is accused of using its community to foment fear, uncertainty, and doubt (FUD) about the network in addition to sponsoring these attacks. By posing as Pawzone, a reputable initiative scheduled to debut on the Shibarium network, the project and its crew, according to DaVinci, had entered the Shibarmy.
He therefore asked the Shib community to defend the ecosystem from such projects and to avoid Pawswap, which he referred to as a "Scam or Shitcoin."
Digarch, who posted the screenshot, explained that Pawzone was distinct from Pawswap, which DaVinci had mentioned, and that Pawzone was the group responsible for the NFT marketplace Pawzaar, which will soon be one of the NFT marketplaces that will be available on Shibarium.
Is Pawswap A Genuine Site?
After Digarch's tweet, another member on the X platform asserted that Pawswap wasn't a fraud and noted that the project had received certification from Certik, a reputable blockchain security company, which always gives the public confidence in a certain project.
Further research revealed that this user's claim is true, since information from Certik's website indicates that the project was given a silver KYC badge on September 3. Certik vetted 8 of the project's core team members as part of the verification process and examined the token contract.
The project intends to build its decentralised exchange (DEX) on the Shibarium network, which is also worth highlighting. So, one could wonder why the Pawswap team would want Shibarium to fail since it does not serve the team's interests. With more than 13,000 followers on its X platform, the project also appears to have a sizable fan base.
Even though there are no guarantees that Pawswap is legitimate or not a hoax as DaVinci claims, it is crucial for the community to constantly conduct due diligence.
The influx of tokens and projects into the Shibarium ecosystem is something that the network's principal developer, Shytoshi Kusama, has often underlined in the network's updates.
