Fraud operations related to cryptocurrency are inexhaustible, and their methods and methods are renewed periodically.

Recently, a new fraud method targeting XRP holders was revealed, and the method is to hunt victims by e-mail and make them delude them that the sending company is Ripple asking them to send their XRP coins in exchange for doubling them within a fictional program represented in distributing 2 billion XRP for free.

I just received this @ripple Scam on my personal email, be aware this is a scam! I think some exchange or something their customers’ data has been hacked 🤔 pic.twitter.com/n6HnEyYIAF

– scotsexrp1 Ⓥ (@ecossexrp1) May 21, 2020

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This method is innovatively designed unlike most scams that are full of misspellings and offers that sound too good to be true.

This latest fraud attempt to steal XRP coins from their holders seems highly believable.

This is against the backdrop of the XRP investors’ rough journey over the past years, as XRP investors often faced tough times.

This made many investors refer to XRP as among the worst performing cryptocurrencies in two years.

It wasn’t until Ripple’s annual Swipp conference that it was able to cause the price of XRP to soar.

Where XRP did not rise for a while, and even decreased in March, which made investors hugely frustrated with XRP and its executives at Ripple who are at the head of the cross-border payments project.

To finance the operations, Ripple executives were selling XRP so massively and periodically that investors demanded to stop the massive selling of XRP, and Ripple pledged to slow down the sales to allow the assets to recover.

Sentiment towards the coin has gone very low and XRP has become one of the most unpopular currencies in the crypto space, often described as a scam project.

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But the coin is not a scam, as it already ranks third in terms of total market capitalization behind both Bitcoin and Ethereum.

However, its investors are certainly exposed to fraud in another way, which we referred to at the beginning of the article, where investors are offered a tempting amount by email, which offers them to double their holdings of XRP by sending it to an address owned by Ripple.

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The scam may seem obvious to some, but XRP investors who have suffered in two years of falling prices and ripple managers that have helped put prices in a tight spot, may be taking the bait.

The email comes with the Ripple logo, XRP address, and instructions on how to go about the process.

But following the instructions will lead to a complete loss of your Ripple coins, so please beware of suspicious messages that reach the message box and do not click on any links until you are sure of the sender.

Read also:

Ripple XRP gets approval from US authorities for cross-border fund transfer

Report: 98% of Ripple XRP transactions are “empty”