Shiba Inu Warns of LEASH Migration Scams Preps v2 Migration
Shiba Inu has issued an urgent alert to warn its community of rising LEASH migration scams. Scammers are deploying fake migration sites and phishing messages to trick users into connecting wallets and approving malicious transactions, typifying LEASH migration scams targeting less experienced investors. Following an August 11 incident that inflated LEASH supply by 10%, developers have proposed a new audited, non-rebasing LEASH v2 contract, pending DAO approval. The team stresses that no official LEASH migration exists on Solana and that only migrations announced on the official Shiba Inu website are valid. Traders are advised to avoid unsolicited links, never approve wallet requests from unverified sources, and follow verified migration steps to protect funds. With SHIB token market cap at $7.2 billion, maintaining wallet security and adherence to official channels is essential for safeguarding investments.
Bearish
The surge in LEASH migration scams and the unexpected supply inflation have undermined trust in LEASH, likely triggering caution-selling among traders. In the short term, heightened security alerts and warnings reduce buying interest and increase sell pressure, exerting bearish sentiment on LEASH price. Over the longer term, the planned v2 migration and audit could restore confidence, but until DAO approval and a secure migration are completed, uncertainty will persist, keeping price action subdued.