Full Investigation into SHIBA BAE scam.

Author: Spaceshib

Previously, we’ve made a report on the SHIBA BAE scam and their recent rug pull that left many unhappy investors out of pocket. It would seem the story was complete - time to move on. However, vigilantes never sleep and after the dust had seemingly settled, more details began to surface. Down below is the full story of the scam, reconstructed and supplemented by the juiciest of details. And so it all starts on June 30th…

SHIBABAE, 2022-2022

June 30th marked a red letter day for the SHIB community - another scam token named SHIBA BAE was born to three mothers simultaneously. They are one RyoshiMade (allegedly Tyler John Anthony, born 1996, in real life) and two other devs - Zac Anderson and Kaz Patafta (aka Roger and David.) According to Ryoshi, both are former developers of ETH SHIBA token.

Soon after the fair launch (a type of crowdfunding campaign where projects distribute their tokens among their investors) SHIBA BAE had a few hundred hodlers orbiting around, all sipping their Piña coladas and waiting to become rich by virtue of well-known tools used to create money out of nothing: FOMO, hype, x1000 craze etc.

Unlike your crappy Bitcoin, SHIBA BAE is designed to benefit its developers every time someone buys or sells through a “16% buy tax” and a “20% sell tax” respectively. In simpleton words, every $100 you throw down on SHIBA BAE becomes $84 worth of tokens, with $16 going directly to Ryoshi and his ilk’s pockets. According to the scam's website, those 16/20% will be used for greater things - development of the token, curing cancer, fixing climate change etc.

At one point, Ryoshi was welcoming a new hodler, ready to buy AUD 20K worth of SHIBA BAE. Considering the 16% buy tax, Ryoshi must have made at least AUD 3,200 from that one investor alone. Not too shabby!

But wait, Ryoshi promised SHIB burns would be supported through his project!

And so shortly after the rollout, Ryo was scheduled to burn $2k worth of SHIB. Only he never did. According to a leaked chat with one of SHIBA BAE hodlers, Ryoshi was “down on money” at the time and even went on to try and persuade others to donate the burn money.

Now, we don’t have evidence that anyone actually ever made the “donation.” What we do know is that soon Ryoshi lost the password from his MetaMask account required to make the burn, and this is when…

Panic Sell

Yep, the project’s founder losing his password is kind of a big deal for a hyper-volatile realm such as crypto, and so it caused a massive panic sell among the SHIBA BAE investors. You’d think it would make Ryoshi worry, being the founder and all, but no. He actually stood to benefit from the panic sell. How?

Remember that 20% sell tax we mentioned earlier? Good. Then you have your answer.

But before everyone could pull out for good, all of a sudden, Ryoshi comes back with the password! Hooray! Also, around this time Roger and David (the devs) were allegedly banned from the project, for reasons unknown. So Ryoshi comes back with his new friend in tow, known only as Marino Riverbank, supposedly a crypto trader. 

To help boost the investors army and pump the charts to the sky, they launch a new promo campaign on Youtube and Twitter. Fomotion was doing the former and SHIBILIA the latter. According to leaked evidence, SHIBILIA must have made at least $500 worth of Etherium for a week-long campaign.

To help forget the recent debacle with the keys, Ryoshi and his new pal shower their investors with stunning news - they’ve been offered a listing on several crypto exchanges, including AzBit! Great effing news for the token, right? The stinky side of the matter is that the listing will set them all back some $13K. And so Ryoshi launches a big begging campaign among his investors, asking for $13,000 worth of listing money.

We don’t know whether the full amount of money was ever collected, but what we do know is that…

Rug Pull

Before the listing could happen, Ryoshi made an announcement on their Telegram, claiming that the evil devs (Roger and David) have assumed complete control of the project and are about to pull the rug! Naturally, the investors, now scared shi*less, started dumping their SHIBA BAE at 20% sell tax. Meanwhile, one of the devs, Roger, makes an announcement on Telegram that he’s about to pull the plug on liquidity. In simple words, those who didn’t sell their tokens in time, won’t be able to sell at all.

Shortly after the shit storm spread far and wide, Ryoshi blew up his former Twitter handle with claims he had no control over matters and that he, too, was shocked by what Roger and David had done. It's worth noting that despite Ryo claiming that Roger and David were banned from the project way back in the beginning, one of them was spotted casually hanging around the chat, as was reported by one of the users immediately after sh*t hit the fan. Ryoshi, of course, was too busy promising to make it right with his next great project - DORD.

Last but not least, some leaked screenshot (presumably of Ryoshi) shows evidence that Ryoshi had a plan to take make a dump shortly after the Etherium merge, which, to mention, concides with when the SHIBA BAE rug pull took place.

Ryoshi Moves On...

He soon moved on to his next project called DORD token. The scope of the project's creativity is truly inspiring, considering the slogan it shares with another project called SHIBNOBI. You can find their Telegram chat room over here. Turns out some of the people that got burned by SHIBA BAE are the same people that are now on the DORD bandwagon! Not only that, but what may be their first rug pull coming can already be evidenced by the charts. Well, good luck to them.