What you need to know about scams targeting XRP holders
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Answer What you need to know about scams targeting XRP holders
The cryptocurrency sector has witnessed a variety of frauds over the past years, and some of them are still ongoing, but these fraudulent operations have become more present in conjunction with the rise and rise of the crypto market, which usually brings with it newcomers who are more vulnerable to fraud.
A recent report from the Austrian Financial Market Authority revealed that more than 60% of all financial frauds reported recently involved the cryptocurrency category.
The report detailed how scammers who often use social media platforms to spread false ads, while targeting new users in the crypto sector, operate.
Scams and scams targeting XRP holders are not new, but they are still paying off, which has emerged over the past few weeks.
Read:The KuCoin platform succeeds in stopping the wallet of a fraudster who managed to steal more than one million Saudi riyals
Ripple had earlier tackled a scam using an incentive program targeting XRP holders.
mentioned Official Website For Ripple:
Beware of the latest giveaway and free distribution scams.
There is a fake email and scam website circulating offering community incentive programs or plans to offer XRP coins.
Neither Ripple nor any of our corporate executives have ever given — or will ever give — free gifts of digital assets.
No XRP giveaway is endorsed or sponsored by our company, its affiliate company, its technical support, or any other authorized or sponsored entity.
In a recent tweet on May 4, the community-focused XRP Analytics team XRP Forensics alerted its user base to the re-emergence of the scam.
Few of the victims who received similar reward emails shared screenshots of the emails on the social networking platform “Twitter” showing the scams that were targeting them.
Read:Insider sources: India may classify Bitcoin as an asset class
A similar scam or rather the same scam happened last year as well, as the Ripple team tweeted, explaining:
We have received more than 20 reports of victims in the past two days, and most of them reported theft after the money had already been laundered.
The Analytics team recently stated that the total number of illegal activities has decreased significantly over time.
According to statistics on the ws-stats website, about 27 accounts have been flagged as fraudulent.
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