Shiba Inu (SHIB), a popular memecoin, faced a major setback this week due to a suspected hack. Reports suggest that the administrator’s profile on the Shiba Inu Telegram network was targeted by hackers, resulting in the theft of “Ragnar’s” account access, a well-known figure associated with the memecoin.
Lucie, the chief marketing strategist of the Shiba Inu community, issued a warning about the attack on Wednesday (4th), alerting users to the potential breach. Lucie advised Shiba Inu users not to interact with the hacked profile. Following this news, the price of SHIB also experienced a decline.
Lucie shared a screenshot on a platform called “X,” urging users to “stay safe.” The screenshot contained a message from another community administrator known as “DaVinci.” He also warned users not to engage with Ragnar’s profile on Telegram.
Ragnar is a prominent administrator of the Shiba Inu community and an important member. However, DaVinci’s warning message stated that his account has been compromised, leaving it vulnerable to potential scams by the hackers.
Additionally, DaVinci reported that the hackers had already started posting fraudulent content on Ragnar’s account. He advised users to avoid communicating or conducting transactions with the account to protect themselves from potential fraud.
DaVinci further advised users to immediately report any suspicious activity. While there is no information about the attack, it is suspected to be a phishing scam where hackers impersonate Ragnar to carry out fraudulent activities.
Following the attack, the price of SHIB dropped by 1.38%, reaching a low of $0.000007214 at the time of writing. Trading volume also decreased by 17.09%, amounting to $92.36 million, and its market value declined by 1.37%, totaling $4.25 billion.
Notably, the entire cryptocurrency market also experienced a decline, suggesting that investors have shifted their focus to safer assets. Major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) witnessed smaller decreases.
DaVinci’s plea to avoid interactions with the compromised account, along with reports of fraudulent content being posted, highlights the need for vigilance within the Shiba Inu community. As of now, Ragnar’s account remains compromised and subject to scam reports, with no estimated recovery time.