- Shiba Inu investigates security concerns after PeckShield flags suspicious activity.
- Scam alerts rise as fake Discord servers target SHIB holders with wallet-draining dApps.
- SHIB price climbs 5.51% to $0.00001411, but exchange balances signal mounting sell pressure.
Shiba Inu’s core team confirmed it is investigating suspicious activity flagged by blockchain security firm PeckShield, while SHIB faces mounting sell pressure on exchanges.
Developers said internal staff and external partners have been mobilized to track the source and pledged to release a full report once the review ends.
Related: Shiba Inu Scam Alert: Team Warns of Fake TREAT Token Link on Crypto.com
Scam Alerts Rise as Fake Discord Servers Target SHIB Holders
Community reports point to a surge in scams using expired Discord invites to trick holders into joining fake servers. Attackers deploy wallet-draining dApps disguised as verification tools, draining balances within minutes.
Shibarium Trustwatch, a community watchdog account, warned that fraudulent sites often mimic Shiba Inu’s official branding. Developers stressed that all legitimate links are listed only at shib.io and reminded users not to approve transactions from unverified sources.
Developers Respond to Wallet Compromise Reports
Concerns escalated after claims surfaced that a wallet labeled “Shiba Inu: Deployer 1” had been compromised. Developer Kaal Dhairya clarified that no ecosystem operations were tied to the address, adding that any tokens issued from it should be treated as scams.
SHIB Balances on Exchanges Hit 30-Day High
On-chain data shows exchange balances for SHIB rose to a 30-day high of 156.47 trillion tokens on September 11, according to Glassnode.
Analysts flagged the increase as a sign of potential sell pressure during the latest price bounce.
SHIB Price Climbs 5.5% Despite Overhang
SHIB gained 5.51% in the last 24 hours, trading at $0.00001411 with volume surging 59% to $403.47 million. Market cap reached $8.31 billion, with nearly identical fully diluted valuation given the 589.24 trillion circulating supply.
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Price action showed SHIB rising from $0.00001337 to a $0.0000142 intraday peak before consolidating. Analysts noted demand will hinge on sentiment and speculative flows as security investigations unfold.
Related: Is Shytoshi Kusama Gone? SHIB Team Says He’s Just “Ten Steps Ahead”
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Source: https://coinedition.com/shiba-inu-security-shib-sell-pressure/
