CoinMarketCap Accused of Listing 3 Fake Contract Addresses For $SHIB Token; SHIB Team Issues Alert

The Shiba Inu team has released an official statement regarding the 'scandalous' activities of crypto exchange CoinMarketCap on its Twitter handle on January 14, 2022. The SHIB team has informed crypto investors that the popular exchange has listed as many as three fake contract addresses for SHIB on its website.

"Please be aware that COINMARKETCAP has knowingly listed 3 fake contract addresses for SHIB. None of these 3 addresses (BEP20, SOLANA, or TERRA) are valid SHIB addresses and are unsafe to use," the statement read, according to SHIB Twitter handle.

The team has also warned investors not to interact or purchase SHIB tokens from these fake addresses. "Do not interact with these contracts. Do not purchase SHIB from this Address As your Funds will be irreversibly lost," the statement further read.

Shiba Inu and CoinMarketCap Listing Scandal

Moreover, SHIB in its official release has further claimed that CoinMarketCap has refused to communicate with the SHIB team on updates of the token page and allowed malicious actors to vandalise their listing.

Reminding that $SHIB is an ERC-20 token only and not a coin, the Shiba Inu team has asked investors and the SHIBArmy to stay alert. Meanwhile, the Shiba Inu breeds are currently working diligently to get this matter solved as soon as possible for SHIB investors.

Highlighting The 3 Fake Addresses on CoinMarketCap -

  1. Binance Smart Chain (BEP20)
  3. TERRA

Shiba Inu on CoinMarketCap

According to CoinMarketCap, the dog meme token is currently trading at $0.00003214 up by +0.89 in a 24-hour trade. with a market cap of $17,645,507,042. Shiba Inu or $SHIB, which is an Ethereum-based altcoin featuring the Japanese dog breed Shiba, surpassed Bitcoin becoming the most popular cryptocurrency in 2021.

The Shiba Inu ecosystem comprises three crypto tokens including Leash (LEASH), and Bone (BONE), which will be used as gas in Shiba Inu's Layer 2 solution, 'Shibarium' and the third token Shiba Inu (SHIB), which is the most prominent component of the SHIB ecosystem.

The International Business Times advises investors to be well aware of the latest trends in the cryptocurrency market and not fall for any trading rumors like the one we have just reported.

This article was first published on January 14, 2022