Ripple has sounded the alarm for XRP users: Be wary of fraudulent schemes. These deceitful activities have been aimed at XRP owners, with some con artists even using deepfakes of Ripple‘s CEO, Brad Garlinghouse, to lure victims into free XRP giveaway traps.
To clarify for the community, Ripple wants to make it clear that neither the company itself nor any of its executives will ever request you to transfer XRP. In an effort to drive home this message, Ripple produced a demonstrative video.
Common fraud techniques involve impersonating reputable entities by employing authentic-looking logos, profile pictures, deepfake videos, or genuine video clips displaying company branding.
Crypto giveaways on social media involve supposed public figures posting offers for free digital currency. Phishing attacks frequently arrive as emails or texts from recognized sources, requesting users to interact, click a link, or transfer funds.
Crypto projects can be abruptly abandoned by developers, who then take the funds with them, leaving investors holding the bag. This unfortunate event is referred to as an exit scam or a rug pull.
In a recent blog entry, Ripple shares that they are taking decisive actions against scams in various ways. They collaborate with external specialists to continuously scan the internet for possible fraudulent activities, immediately inform users of any detected scam-related behavior, and partner with other blockchain businesses to synchronize anti-scam initiatives.
Identifying scams
Ripple provided valuable insights on how to spot and steer clear of social media frauds. Some red flags to look out for are profiles without profile pictures, uncommon account names, and comments expressing gratitude or affection towards a company for supposed giveaway wins.
Additional methods involve limiting or disabling social media remarks, preventing access to deceitful websites, or encountering unsolicited requests for financial transactions via crypto wallet addresses, as well as experiencing unsanctioned giveaways and unanticipated messages.
Unusual behavior in cryptocurrency wallets involving the sudden appearance of unknown digital assets, offers of instant free crypto, bogus endorsements from supposed users who’ve allegedly received free crypto, and shady websites with grammatical or spelling mistakes are all red flags for potential scams.
Tips to stay safe
Before transferring crypto funds, it’s essential for users to independently research and validate the authenticity of the recipient or requesting entity. This includes checking their website and official social media channels for accurate information.
It’s recommended for cryptocurrency users to choose web browsers with robust safety features, capable of alerting users to potentially hazardous crypto scam sites or downloads. Additionally, keep in mind that if an offer seems excessively enticing, it may be a red flag.
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2024-04-12 17:59