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Shiba Inu’s layer-two network, referred to as Shibarium, is encountering a challenge from fraudsters linked to the Pawswap initiative. This information was revealed by a notable Shiba Inu administrator, recognized in the SHIB community as DaVinci, who indicated that the scammers aim to mimic the authentic project PawZone while disseminating misleading information to discredit Shibarium and its user community.
This is the personal opinion of our @Shibariumtech admin DaVinci and #NFA. Remember, I’ve been sharing @PawZoneOfficial $Paw with you since it launched. @PawzaarOfficial is one of the features and will be one of the first #NFT marketplaces on #Shibarium to rival @opensea.… pic.twitter.com/Ya125SLH8J
— Digarch Stan | Summer Of Shibarium (@Digarch) September 10, 2023
The warning about the scam has raised alarms within the committed Shibarium community, prompting a reaction from another key member.
They clarified that DaVinci’s remarks represent a personal viewpoint, not financial guidance. Nonetheless, they voiced support for fellow SHIB supporters and reiterated prior backing for PawZone (PAW). They also emphasized the forthcoming feature, Pawzaar, as an innovative NFT marketplace on Shibarium set to compete with platforms such as OpenSea.
As per the latest figures from DefiLlama, Shibarium presently has around $801,000 in assets locked within the platform. This marks a decrease from its peak when Shiba Inu’s protocol held a notable $1.47 million in total value locked just a week prior.
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Shiba Inu Transaction Volume Surge
In spite of the scam concerns within the community, Shibarium has witnessed an exceptional increase in transaction volume over the last two days. Data from Shibariumscan indicates that transactions have more than doubled since the previous Thursday, soaring from a peak of 88,630 to an impressive 177,050 transactions in the last 24 hours alone. This increase brought the total number of transactions through the blockchain during this timeframe to an extraordinary 420,000.
The abrupt rise in transactions has elevated Shibarium’s total transaction count since its full launch at the end of August to an impressive 1.74 million, representing a significant achievement for the Shiba Inu ecosystem.
The project is currently advancing with ongoing development, and a recent notable achievement is the launch of its layer-two network, named Shibarium. For detailed information, please refer to our latest video:
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