{"id":138420,"date":"2023-09-02T03:50:54","date_gmt":"2023-09-01T22:20:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138420"},"modified":"2023-09-02T03:50:54","modified_gmt":"2023-09-01T22:20:54","slug":"shibarium-executive-issues-strong-warning-about-exploitation-risks-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/shibarium-executive-issues-strong-warning-about-exploitation-risks-crypto-news\/","title":{"rendered":"Shibarium executive issues strong warning about exploitation risks – Crypto News"},"content":{"rendered":"
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Lucie, Shiba Inu\u2019s marketing specialist, has cautioned the public against potential exploitation risks on Shibarium, the newly-released Ethereum layer-2<\/a> scaling protocol.<\/p>\n

According<\/a> to a post by the executive on X (formerly Twitter), Shibarium is accessible for development by anyone, similar to other blockchains like Polygon and Ethereum. However, this openness also makes it vulnerable to potential attacks. Malicious entities could exploit the platform to target decentralized applications<\/a>\u00a0constructed on the layer-2 network or deploy fraudulent rug pull tokens.<\/p>\n

Users should exercise caution and remain vigilant, as some exploiters might even utilize the Shibarium name in their scam project titles, Lucie highlighted.<\/p>\n

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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.<\/p>\n

The mere incorporation of the term “Shibarium” or “Shib” in\u2026 pic.twitter.com\/AiNqORi7J2<\/a><\/p>\n

\u2014 | Summer of Shibarium (@LucieSHIB) August 16, 2023<\/a><\/p><\/blockquote>\n

Lucie offered a set of instructions to assist users in safeguarding themselves while using Shibarium, and to help users to reduce the risk of encountering phishing links and fraudulent schemes. Users are advised to verify the legitimacy of the protocol or entity by engaging with their official Telegram or Discord channels. <\/p>\n

Users should assess the community\u2019s overall sentiment within these channels, thoroughly examine social media content and verify transactions through Etherscan. Lucie indicated that while the team strongly emphasizes user safety, users themselves are also responsible for taking proactive measures.<\/p>\n

Related: <\/em><\/strong>SHIB, BONE, LEASH tokens dip amid rumors of $2.5M Shibarium gaffe<\/em><\/strong><\/a><\/p>\n

According to a recent statement from Shytoshi Kusama, Shiba Inu\u2019s lead developer, although the blockchain aims to restore decentralization to the world, it is not without its downsides.<\/p>\n

Shiba Inu\u00a0launched the Shibarium mainnet<\/a>\u00a0on Aug. 16, after months of testing that saw millions of users participate and 21 million wallets created. However, the launch appears to have gotten off to a rocky start<\/a>\u00a0when it comes to the price of its ecosystem tokens. <\/p>\n

Collect this article as an NFT<\/a><\/em><\/strong> to preserve this moment in history and show your support for independent journalism in the crypto space.<\/em><\/em><\/p>\n

Magazine: <\/em><\/strong>Deposit risk: What do crypto exchanges really do with your money?<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Lucie, Shiba Inu\u2019s marketing specialist, has cautioned the public against potential exploitation risks on Shibarium, the newly-released Ethereum layer-2 scaling protocol. According to a post by the executive on X (formerly Twitter), Shibarium is accessible for development by anyone, similar to other blockchains like Polygon and Ethereum. However, this openness also makes it vulnerable to […]<\/p>\n","protected":false},"author":2,"featured_media":138421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138420"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138420\/revisions"}],"predecessor-version":[{"id":148085,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138420\/revisions\/148085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138421"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}