XRP Holders Alerted: Scam Warning Over Fake LEASH on Solana

Investors in XRP and broader crypto markets should take note: another fraudulent scheme is targeting the Shiba Inu (SHIB) ecosystem, specifically involving the LEASH token. With the rise in XRP and similar digital assets, scammers are exploiting the popularity of established meme coins for financial gain.

The alarm was raised by a watchdog account on X (formerly Twitter), @susbarium, which routinely warns SHIB investors about potential threats and misinformation. In their latest advisory, they clarified that $LEASH—a critical token in the Shiba Inu ecosystem—is not available on the Solana blockchain. Any such listing should be considered fake.

According to the post, any token claiming to be LEASH on Solana is fraudulent and not affiliated with the authentic Shiba Inu infrastructure. To validate token legitimacy, users are urged to cross-check listings through Shiba Inu’s official token portal.

“There is no official $LEASH token on Solana,” the warning read. “Any version not listed on our site is fake.” The post featured a red cross emoji to underscore the warning, imploring users not to engage with suspicious versions proliferating online. The full alert is available here.

Understanding LEASH and Its Role

LEASH was initially launched as a rebase token, loosely tied to the price of Dogecoin. However, its rebasing function was later disabled, and it now operates as a standard ERC-20 token on the Ethereum blockchain. It is one of four primary tokens in the SHIB ecosystem, which also includes SHIB, TREAT, and BONE.

As of now, LEASH holds a market capitalization slightly above $9 million, making it the 1,864th ranked token on CoinGecko. Its value fell dramatically—by over 17%—in a single day, reducing its price to around $85. Fake versions on other chains like Solana only add confusion and risk to retail investors.

Repeat Scams in the SHIB Ecosystem

This incident is not isolated. The SHIB ecosystem remains a frequent target for scams due to its large global community and substantial social media presence. Earlier reports have detailed how SHIB and related tokens are often targeted in similar fraud attempts.

SHIB itself is the most prominent token in the ecosystem, ranked second among meme coins by market cap, despite a notable 11% decline in the past month. Its widespread recognition makes it an ongoing magnet for malicious actors.

In a time when XRP and similar tokens are increasingly popular and blockchain interoperability is gaining traction, it’s critical for investors to remain vigilant. Verifying through official sources, such as Shiba Inu’s token portal or trusted crypto databases, is essential before interacting with any new token or blockchain variation.

As scams grow more sophisticated across blockchain networks, XRP community members—like their peers in SHIB—must maintain caution online, especially when dealing with lesser-known projects or newly launched tokens purportedly allied with popular ecosystems.

Related: XRP Price: $12M Max Pain for Bears

The original story appeared on CryptoPotato and was first published by CryptoPotato.