SHIB Lead Shytoshi Kusama Issues Crucial Warning to Community
Shiba Inu’s lead developer, known as Shytoshi Kusama, recently issued a warning to the SHIB community about scams related to the SHIB meme coin and its ecosystem. Kusama addressed the prevalence of scams in the crypto space and urged community members to be cautious.
In particular, Kusama warned against falling for scams involving the KNINE token, which was launched by K9 Finance DAO, a partner of Shibarium. He emphasized the importance of using official platforms and avoiding scammers.
Kusama also announced a closer integration between the SHIB team and K9 Finance, with him and lead developer Kaal Dhairya becoming official advisors to K9. This integration is tied to the launch of the KNINE token on Shibarium, a Layer-2 solution.
Additionally, Lucie, a member of the SHIB team, hinted at upcoming SHIB burns. The team has set aside 40 ETH from transaction fees, equivalent to over $3,390, for burning SHIB. This amount represents a staggering 4,690,279,616 Shiba Inu coins. The team has been conducting burns since November, destroying billions of SHIB by transferring them to unspendable wallets. Lucie advised the SHIB community to stay tuned for further announcements regarding the burns.
In response to criticism about the perceived lack of effort by the SHIB team to increase burns, Lucie shared a message from the mysterious SHIB founder Ryoshi, who disappeared from social media in 2022. Ryoshi suggested that those who are unsatisfied with the burn rate should take it upon themselves to burn SHIB.
According to Shibburn, within the last 24 hours, the SHIB community has transferred a significant amount of SHIB out of circulating supply, with the largest chunk being 42,466,919 SHIB burned.
It remains crucial for the SHIB community and investors to remain vigilant against scams and stay informed about official updates and announcements.