SHIB Telegram Account Hacked; Community Urged to Remain Vigilant

The Shiba Inu community faces heightened concerns as hackers compromise the Telegram account of a Shibarium Telegram channel admin, spreading misinformation about a fraudulent BONE airdrop.

The Shiba Inu community faces heightened concerns as hackers compromise the Telegram account of a Shibarium Telegram channel admin, spreading misinformation about a fraudulent BONE airdrop.

The Shiba Inu community is grappling with a security crisis as hackers target one of its most essential communication channels. In a concerning turn of events, the Telegram account of an admin from the Shibarium Telegram channel, Ragnar, has been compromised. The attacker, masquerading as Ragnar, is now disseminating deceptive information about a fake BONE airdrop. As the community rallies to contain the situation, prominent voices in the SHIB ecosystem are issuing urgent warnings, emphasizing the importance of vigilance among SHIB holders and the need for robust cybersecurity measures.

Meanwhile, the Shibarium blockchain, a critical component of the Shiba Inu ecosystem, is on the verge of achieving a significant milestone in its development journey. With an impressive count of 933,156 blocks processed, Shibarium is closing in on the coveted one million block mark. This remarkable progress is just one facet of the blockchain's expansion, as Shibarium continues to experience growth in various aspects. From an upsurge in total transactions and wallet addresses to a substantial amount of BONE tokens staked within the network, Shibarium's thriving ecosystem is setting the stage for the next phase of Shiba Inu's journey.

Shiba Inu Community on High Alert as Hacker Targets Shibarium Telegram Channel

In a recent turn of events, the Shiba Inu community has been shaken by the news that the Telegram account of one of the admins of the Shibarium Telegram channel, Ragnar, has been compromised by hackers. The incident has raised concerns among SHIB holders and prompted prominent figures in the community to issue warnings.

The announcement came via DaVinci, a SHIB Discord admin, who shared a post from the official marketing specialist of the Shiba Inu team, known as Lucie. According to DaVinci, the hijacked account is now disseminating false information about a BONE airdrop to members of the Shibarium Telegram channel. The compromised account, claiming to be Ragnar, asserts that the BONE tokens for the airdrop will be sourced from the "team treasury wallet" and that it will be a limited event.

DaVinci issued a stern warning to SHIB holders, urging them not to engage in any communications with the hacked account, as this could potentially result in the loss of their hard-earned Shiba Inu holdings. @vetkusama, a prominent SHIB-themed account on the X app who identifies as the "brother of Shytoshi Kusama," echoed this sentiment. He cautioned the SHIB community not to click on any links in Ragnar's posts and emphasized that there is no legitimate airdrop planned.

The incident has sparked discussions within the community about the need for enhanced cybersecurity measures to protect accounts associated with Shiba Inu. As Bone (BONE) is a vital governance token for the Shibarium dex ShibaSwap and serves as the gas token on the Layer-2 blockchain Shibarium, the security of these accounts is of utmost importance.

Meanwhile, there is positive news for the SHIB community regarding the burn rate. According to the Shibburn website, in the past 24 hours, SHIB holders have collectively burned an impressive 38,942,436 SHIB tokens, marking a remarkable 107% increase compared to previous days this week. This surge in the burn rate comes as a relief, as the burn rate had remained low despite the cumulative burn of over 100,000,000 SHIB tokens earlier this week.

Notably, during this recent burn, no significant amounts of Shiba Inu tokens were transferred to dead-end wallets; the largest transfers accounted for slightly less than 7 million SHIB tokens. This demonstrates the persistent dedication of the SHIB community to reduce the circulating supply of Shiba Inu tokens by locking them away in unspendable wallets on a daily basis.

Last month, the community achieved a remarkable milestone by burning more than 2.3 billion Shiba Inu tokens, showcasing the commitment and determination of SHIB holders to increase the scarcity of the token.

As the Shiba Inu community remains vigilant in the face of cybersecurity threats and continues to actively reduce the circulating supply of SHIB tokens, its resilience and dedication continue to be a defining feature of this cryptocurrency movement.

Shibarium Nears 1 Million Blocks Milestone as Shiba Inu Ecosystem Thrives

In related news, Shibarium, the Layer-2 blockchain designed for the Shiba Inu ecosystem, is on the brink of achieving a significant milestone as it approaches one million total blocks. The blockchain's growth has been remarkable, evident in various key metrics, including total transactions, wallet addresses, and staking activity.

Shibariumscan, a reliable source for tracking blockchain data, reports that the total number of blocks processed by Shibarium currently stands at an impressive 933,156, bringing the blockchain tantalizingly close to the million-block mark.

The continuous expansion of Shibarium is not limited to block count alone. Data from Shibariumscan reveals that total transactions on the blockchain have surged to 3,291,263, indicating a growing ecosystem of users actively engaging in transactions. Wallet addresses within the Shibarium network have also experienced substantial growth, with a current tally of 1,251,882 unique addresses.

One of the most noteworthy aspects of Shibarium's development is the amount of BONE tokens staked on the blockchain, which currently stands at 27,239,313 BONE. Staking has become a pivotal activity within the Shiba Inu ecosystem, providing participants with opportunities to earn rewards and contribute to network security.

In addition to the exciting developments within the Shibarium network, a member of the Shiba Inu team, Lucie, has shared her perspective on the broader cryptocurrency market. Lucie believes that Shiba Inu (SHIB) may be gearing up for a significant move. She suggests that the market may need to witness substantial price fluctuations in Bitcoin (BTC) before the fear of missing out (FOMO) sets in among investors, leading to a gradual shift of funds into altcoins like SHIB.

Lucie's comments hint at the possibility of an "altcoin season," a phenomenon well-known in the cryptocurrency sector. Historically, after a period of upward momentum in Bitcoin's price, the market often experiences a stabilization phase, prompting investors seeking short-term returns to diversify into altcoins.

Currently, Bitcoin remains the primary focus for most cryptocurrency investors. CoinShares data reveals that digital asset investment products attracted inflows last week for the first time in several weeks, with a total of $21 million. Notably, the vast majority of these inflows, totaling $20 million, were directed toward Bitcoin, underscoring the continued dominance of the leading cryptocurrency.

While Bitcoin maintains its allure, the altcoin market has seen relatively subdued activity in recent weeks. Lucie's optimism regarding SHIB and altcoins hints at the potential for a shift in market dynamics as investors seek new opportunities in the evolving cryptocurrency landscape.

As Shibarium inches closer to the one million blocks milestone and the Shiba Inu ecosystem flourishes, the cryptocurrency community eagerly anticipates the next phase of development and growth in the blockchain space.

Price Overview

At press time, the cryptocurrency price tracking website CoinStats indicated that SHIB was changing hands at $0.00000724. This was after the popular meme coin printed a 24-hour gain of 0.98%. Notably, this positive daily performance was enough to flip the cryptocurrency’s weekly performance back into the green zone. Subsequently, SHIB’s price was up 0.21% over the past 7 days.

Price chart for SHIB (Source: CoinStats)

SHIB was able to reach a 24-hour peak of $0.00000728, but had since retraced to trade at its current level. Nevertheless, the meme coin was still trading closer to this peak than its daily low, which was situated at $0.00000717.