Usman Salis
Zama CEO warns Shiba Inu (SHIB) community about dangerous honeypot scam using fake token on Binance Smart Chain. Scammers exploit legitimate SHIB partnership to trap investor funds.
The Shiba Inu (SHIB) community just got hit with a major scam warning. Dr. Rand Hindi, CEO of Zama, jumped on X to alert everyone about a fake "Zama" token that's been trapping investors' money.
"This is fake. There is no Zama token yet. Don't get rekt, guys," Hindi posted after community members spotted the fraudulent token on Binance Smart Chain.
Here's the thing - Zama is actually working with SHIB on some pretty cool privacy tech called fully homomorphic encryption (FHE). This lets developers work with data without having to decrypt it first. But scammers are using this legitimate partnership to fool people.
How This SHIB (Shiba Inu) Honeypot Scam Works
This isn't your typical crypto scam. The fake Zama token works like a honeypot - you can buy it just fine, but when you try to sell? Good luck with that. Your funds get stuck, and the scammers slowly drain your wallet.
Smart community members caught on quick though. They noticed something was off and started spreading the word before more people got burned.
The scam is particularly sneaky because it piggybacks on real news. People know about the SHIB-Zama partnership, so a "Zama token" doesn't immediately scream "scam" to everyone.
More SHIB (Shiba Inu) Scams Making the Rounds
It's not just the fake Zama token either. Susbarium, an account that watches out for SHIB scams, recently warned about fake Exodus emails hitting people's inboxes. These emails have subject lines like "Exodus Wallet: Keep It Active" and try to trick you into giving up your wallet info.
Here's a pro tip: real wallets never need "verification" to stay active. And legitimate support will never ask for your seed phrases. The real Exodus website even says "No phone support" right on their homepage.
The bottom line? Always double-check everything. Visit official websites, look for verified social media accounts, and when in doubt, ask the community. With all the excitement around SHIB's new tech partnerships, scammers are working overtime to cash in on people's enthusiasm.
Stay safe out there, and remember - if something seems too good to be true, it probably is.
Usman Salis
