Dogecoin (DOGE) Holders Receive Warning in Wake of This Development

Cover image via U.Today

In the wake of the passing of Kabosu, the beloved Shiba Inu that inspired the iconic Dogecoin meme, Timothy Stebbing, a developer with the Dogecoin Foundation, has issued an alert to the Dogecoin community.

Stebbing indicated that scammers are seeking to capitalize on the emotional moment by creating fake Dogecoin accounts and launching fraudulent schemes to deceive unsuspecting investors and fans.

Please report @dogelcoin who are trying to capitalize on Kabosu's death with their fake @dogecoin account😠 pic.twitter.com/xbGNIUbpOi— Timothy Stebbing (@tjstebbing) May 24, 2024**

Kabosu, the dog behind the "doge" meme, has died after 14 years of internet stardom, according to her owner, Atsuko Sato.

"She quietly passed away as if asleep while I caressed her," Sato wrote on her blog, thanking Kabosu's fans.

Kabosu, also known as 'Kabochan', captured the hearts of millions worldwide and became an internet sensation. Her image, which inspired the creation of Dogecoin, symbolized the fun and whimsical nature of the cryptocurrency world.

Following Kabochan's death, the crypto community on X led by the Dogecoin foundation and the Dogecoin official X handle paid respect to the Japanese Shiba Inu which inspired a generation of online jokes and became the face of Dogecoin cryptocurrency. As reported, Ethereum co-founder Vitalik Buterin also expressed condolences at Kabosu's passing.

While the Dogecoin community mourns the loss of its iconic mascot, some malicious actors are attempting to take advantage of the community's emotional response. Dogecoin Foundation's Timothy Stebbing has flagged one of such fake Dogecoin accounts that emerged after Kabosu's death.

The phony Dogecoin X account which could only be identified upon a closer look was promoting a fake NFT collection launch in honor of the late Kabosu according to the screenshot shared by Stebbing who urged the Dogecoin community to report such accounts.

The warning emphasizes the importance of vigilance among Dogecoin users, urging them to verify the authenticity of social media accounts or fundraising initiatives claiming to honor Kabosu. They should also stand united against those who seek to exploit such a somber moment for personal gain by reporting such accounts.