Scam Alert

Warning: Ripple CTO Exposes Fake XRP Site Endangering Investors!

Key Points:

Ripple’s CTO, David Schwartz, warns of a fake website “holdxrp.com” that is trying to form an affiliation with XRP.
The fake airdrop announcement features a phishing link that could exploit user’s funds. XRP community members need to be vigilant as many scams have been linked to Ripple as a whole.
Bad actors exist in crypto, so announcements that do not come from verified Ripple platforms should be ignored.

David Schwartz, the Chief Technical Officer (CTO) of Ripple Labs Inc, has recently taken to Twitter to warn cryptocurrency enthusiasts about a fraudulent website attempting to form an affiliation with the XRP coin.

His warning was directed towards a website called “holdxrp.com“, which he identified as a scam site, and urged users to be very careful.

Although not recommended, a visit to the website shows an interface that is similar to Medium and features an announcement of a fake airdrop. The announcement contains a blog post from Brad Garlinghouse, the CEO of Ripple Labs Inc, and has surprisingly received over 5,000 claps, which is possibly an attempt to make the website appear more legitimate. However, the announcement contains phishing links that may cause users to lose their funds. The site creators even impersonated industry experts like BitBoy Crypto, Carl from the Moon, and Crypto Rover to comment on the post, further displaying their fraudulent behavior.

Scams related to XRP and Ripple have been increasing since Judge Analisa Torres declared that secondary sales of the cryptocurrency are not securities. Many bad actors are taking advantage of the high social interest in the token by creating fake airdrops and giveaways to lure unsuspecting community members. While David Schwartz has been warning about these types of scams for some time, it is worth noting that genuine XRP-linked Twitter accounts have also been calling for boycotts of fraudulent websites.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.