So, here we are, another day, another crypto scam. This time, a top ally of the Shiba Inu (SHIB) project is warning us about a “honeypot scam” that’s using the name of the open-source cryptography company Zama. Can you believe it? Shiba Inu, the project that’s been working with Zama to implement fully homomorphic encryption (FHE), a fancy way of saying they want to keep your data private even when it’s being used on untrusted domains, is now dealing with scammers. 🤦♂️
Dr. Rand Hindi, the CEO and co-founder of Zama, took to X (formerly known as Twitter, but who’s counting?) to issue a warning that should concern the Shiba Inu and crypto community. “This is fake. There is no Zama token yet. Don’t get rekt, guys,” Hindi wrote, referring to an alert shared by a community member about the fake Zama token. 🚨
This is FAKE. There is no Zama token yet. Dont get rekt guys!
— Rand (@randhindi) July 5, 2025
The alert is about a fraudulent “Zama” token based on Binance Smart Chain (BSC), which, surprise surprise, caught the interest of the crypto community. But, as it turns out, eagle-eyed community members were quick to spot the scam, described as a “honeypot scam.” In this type of scam, buyers can purchase the token but are unable to sell, effectively trapping funds and draining wallets over time. It’s like a digital roach motel—your funds check in, but they don’t check out. 🕷️💰
Hindi clarified that the fake Zama token has absolutely nothing to do with the real Zama cryptography project, which focuses on fully homomorphic encryption (FHE). Despite Zama’s growing presence in the crypto and privacy space, no official token has been launched, and any claim suggesting otherwise is a fraudulent attempt to exploit the brand’s reputation. It’s like someone selling “official” Harry Potter wands on the street—just because it says it’s real doesn’t mean it is. 🧙♂️
Other warnings issued
Susbarium, a Shiba Inu-focused X account dedicated to exposing scams and protecting the Shiba Inu community, recently warned the SHIB community about fake Exodus emails flooding inboxes with the subject line “Exodus Wallet: Keep It Active.” Can you believe it? They’re trying to trick us into thinking our wallets need to be verified to stay active. As if our wallets are going to expire like milk. 🥛
Susbarium warned that this is a fraud designed to steal user funds and urged the Shiba Inu community not to fall for it. A wallet would never need to be verified to keep it active. Also, the real Exodus wallet support will never ask for your seed phrases. They’re not trying to plant a garden, folks. 🌱
To be safe, cryptocurrency holders should always visit the official website, which clearly states, “No phone support.” They should also avoid fraud hotlines and bots. And, most importantly, they should avoid sharing their keys. It’s like giving someone the key to your house and then being surprised when they take your TV. 📺
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2025-07-05 16:48