TL;DR

• Shibarium Trustwatch warns of a fake X account impersonating Shiba Inu’s official page.

• Previous alerts exposed scammers using Shytoshi Kusama’s name and fake SHIFU token emails to deceive the community.

‘Stay Safe’

The ever-evolving cryptocurrency industry offers investors the chance to make substantial profits, which is highly intriguing for investors. However, it is also rife with scammers who take every opportunity to con unsuspecting victims and drain their wallets.

The Shiba Inu (SHIB) community is among the strongest in the sector and comprises millions of members. As such, wrongdoers often target it.

Shibarium Trustwatch recently issued a critical alert to its users, warning them to stay away from a fake X (formerly Twitter) account pretending to be the official one of the meme coin project. 

“This account is NOT official. Always verify the handle and followers. Stay safe! Stay vigilant,” the announcement reads. 

Community members should only rely on official sources and double-check the legitimacy of every single account of dubious people on the social media platform. For starters, the fake account has less than 2,000 subscribers, whereas the official one has almost four million followers. 

Previous Red Flags

This is not the first time Shibarium Trustwatch has issued a similar warning. In November last year, the team claimed that scammers use Shytoshi Kusama’s name (the former lead developer of Shiba Inu) to promote fraudulent tokens in fake groups. 

“Always verify the authenticity of any group or token before participating. Stay vigilant and protect yourself and others from these scams,” the warning reads.

It is important to note that in January 2025, Kusama announced they would no longer serve as the team’s “lead visionary,“ mostly because “there is no more vision needed, only execution and communications.“ The person, who hasn’t revealed their identity yet, said they would focus on becoming the global ambassador for Shiba Inu.

In December last year, the community received another crucial warning. Shibarium Trustwatch advised users to stay away from individuals who send emails containing information about the meme coin SHIFU. 

“Fraudsters are asking people to send them an email asking how to buy and claim SHIFU or if SHIFU has not appeared in their wallet,“ the warning reads.

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Leading cryptocurrency exchange Binance has revealed plans to delist nine stablecoins for users in the European Economic Area (EEA) on March 31 as regulatory pressure intensifies.

The company noted that the affected stablecoins do not comply with the Markets in Crypto-Assets Regulation (MiCA) framework.

Binance to Delist USDT on March 31

In an official blog post, Binance stated that it will delist the largest stablecoin, USDT, along with eight other stablecoins, including Dai, FDUSD, TUSD, USDP, AEUR, UST, USTC, and PAXG, and their trading pairs. EU customers can still trade these assets until the deadline of March 31, 2025.

After the deadline, Binance will discontinue all trading pairs involving these stablecoins, and any remaining holdings can only be sold through Binance Convert. Additionally, all pending spot orders will be terminated within 48 hours.

Meanwhile, Binance noted that MiCA-compliant alternatives, like USDC and EURI, will remain available. Therefore, users are encouraged to convert their non-compliant stablecoin holdings to USDC, EURI, or fiat currencies like EUR before the deadline.

The exchange has also unveiled several special offers geared towards assisting users in their transition, including zero-fee promotions and higher interest rates on Earn products. There is also a $1 million USDC giveaway for users trading USDC or EURI.

MiCa Compliance Deadline Looms

Binance’s announcement comes off the back of similar moves by several top exchanges, including Kraken. Earlier in January, Coinbase’s CEO, Brian Armstrong, stated that the exchange could delist USDT if regulatory pressure persists.

The recently introduced MiCA framework imposes stricter regulatory guidelines for crypto-assets, including stablecoins. The framework mandates every stablecoin issuer operating within the EU to obtain authorization as a credit or electronic money institution.

Additionally, these firms also provide comprehensive documentation of the key features and technical aspects of their tokens. The framework is designed to boost transparency and ensure consumer protection.