Shiba Inu Gets Sudden Security Update for SHIB Holders, What’s Behind It?

Mazrael, a prominent Shiba Inu community member, has shared a crucial security warning with the SHIB community as bad actors intensify their efforts in a bid to drain the wallets of unsuspecting victims.

Mazrael said in a tweet that CCIP official crosschain contracts for Shib are listed on the official SHIB website, with any claiming otherwise likely attempting to mislead, or worse, drain users’ tokens, urging the Shiba Inu community to stay vigilant.

CCIP, in this context, refers to Chainlink’s cross-chain interoperability protocol, which connects the Shiba Inu ecosystem with over 20 blockchains.

In another tweet, Mazrael urges the Shiba Inu community to fight for that which was delivered to it, including the ShibDAO, ShibIO, as bad actors attempt to shill counterfeits in a bid to benefit from Shiba Inu’s popularity.

A recent warning was delivered to the Shiba Inu community by Susbarium Shibarium trust watch, an X account dedicated to protecting the Shiba Inu community and uncovering scams. In a tweet, Susbarium urges the Shiba Inu community to beware of scam messages, claiming a “Leash V2 Migration” is live. These posts often include fake portals urging users to connect their wallets. Shiba Inu holders are urged never to interact with these sites, which could drain their assets.

Shiba Inu scores new listing on Gemini

Major crypto exchange Gemini recently announced the listing of new perpetual contracts for six meme cryptocurrencies, including Shiba Inu.

According to the announcement, Gemini’s European customers can now trade perpetual contracts for Shiba Inu. This enables users to take long or short positions on the dog coin with up to 100x leverage and no monthly expiration date within the Gemini platform.

The perpetual contracts of BONK, DOGE, FLOKI, PEPE and WIF were listed alongside Shiba Inu, allowing for up to 100x leverage and no expiry.

At press time, SHIB was down 0.96% in the last 24 hours to $0.000008631 and down 12% weekly, in line with the crypto market’s drop since the start of November.