Shibarium Executive Raises Concerns About Exploitation Risks

Lucie, the marketing specialist for Shiba Inu, publicly warned about potential exploitation risks connected to Shibarium, the recently unveiled Ethereum layer-2 scaling protocol.

In a post on X (Twitter), the executive emphasized that Shibarium allows open development access, a characteristic shared with other blockchains such as Polygon and Ethereum. However, this openness also exposes Shibarium to potential attacks, making it possible for malicious actors to target decentralized applications within the layer-2 network and deploy deceptive rug pull tokens.

Given this, users are advised to remain cautious and vigilant, as certain malicious actors might attempt to use the Shibarium name for their fraudulent projects. She offered a set of instructions to help users safeguard themselves while utilizing Shibarium, minimizing the likelihood of encountering phishing links and fraudulent activities.

Likewise, users are encouraged to verify the legitimacy of the protocol or entity by engaging in their official Telegram or Discord channels. Furthermore, she encouraged users to gauge the community sentiment in these channels, carefully review social media content, and confirm transactions using Etherscan.

While emphasizing the team’s strong commitment to user safety, Lucie pointed out that users also bear the responsibility of taking proactive measures.

Meanwhile, recently, Shytoshi Kusama, Shiba Inu’s lead developer, noted that, although the blockchain aims to reinstate decentralization in the world, it does come with its downsides.

On August 16, Shiba Inu launched the Shibarium mainnet after comprehensively testing with millions of users participating and  21 million wallets created. However, the launch seems to have faced challenges related to the pricing of its ecosystem tokens.

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