A notable Shibarium team member stressed that while the token cannot be taken down from exchanges, traders should exercise best practices.
On June 2, Shibarium team member and developer DaVinci issued a warning to the Shibarium community regarding malicious activity on the network that culminated in the release of a fake TREAT token.
DaVinci cautioned investors, speculators, and the Shibarium community that the token, named after an actual token that is still in development by the Shibarium team, has not been officially launched. DaVinci made clear that any TREAT listings had no affiliation with official development on Shibarium.
The Shibarium developer explained that the malicious actors also used the official shib.io address in their online posts to lend an air of legitimacy to their fake token.