Shiba Inu Community Receives Warning After BONE Renunciation

Learn about the recent warning issued to the Shiba Inu community after the renunciation of BONE tokens. Discover the scams surrounding the creation of a dummy token and the importance of being cautious in the crypto world.

Posted 7 months ago in Blockchain

A caution sign with a warning symbol in bold red letters

In a recent friendly message to the Shiba Inu community, Shibarium Discord admin DaVinci alerted the Shiba Inu community about scam tokens. Days ago, on Sept. 16, Shiba Inu developer Kaal Dhairya shared the details of Bone minting and renunciation.

Among the steps in the complex process of minting and renouncing BONE was the creation of a dummy token called 'Calcium.' The Shiba Inu developer specifically stated that this token was only being created for the specific purpose of minting and renouncing BONE and urged the community not to buy or trade the token, as it will not have any future value or need.

Dhairya also stressed that anyone selling calcium tokens might be a scammer. 'If someone is selling this, please consider this a scam,' he stated.

As expected, bad actors took advantage of the announcement concerning the dummy token Calcium to create a scam token, hoping to prey on uninformed or unsuspecting Shiba Inu community members. Davinci, in his friendly message, drew attention to one such scam token, 'CAL,' saying this is not legit. He advises the Shiba Inu community to be super cautious and do their homework before jumping into any crypto project.

In a big milestone, Shiba Inu's development team has renounced the contract for Bone ShibaSwap (BONE), Shibarium's official gas token. The official X handle of Shiba Inu shared a tweet from developer Kaal Dhairya, stating that BONE renunciation has occurred through the TopDog contract. The Bone renunciation means that the contract owner has given up control, according to Davinci, Shibarium Discord admin. Now that this milestone has been reached, BONE is now totally decentralized and immune to any future changes or manipulation.

Last updated 9/28/2023, 4:49:47 PM


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