Ripple Warns of Escalating XRP Scams Following SEC Ruling

Ripple has recently cautioned its community about a surge in fraudulent schemes targeting XRP holders.

This spike in scams coincides with Ripple being fined $125 million for securities violations in numerous institutional sales. Taking advantage of the situation, fraudsters have intensified their efforts to deceive users.

The scams, primarily circulating on social media, often involve impersonating Ripple executives or promoting fake giveaways. Ripple has stressed that neither the company nor its officials will ever request XRP transfers or offer promotional schemes with guaranteed returns. Users are advised to be wary of scams promising “airdrop” rewards or “doubling” of tokens.

One particularly concerning tactic involves the creation of fake profiles mimicking high-profile figures within Ripple, including CEO Brad Garlinghouse. These fraudulent accounts use AI-generated images and fake credentials to appear legitimate, tricking users into sending XRP with the promise of receiving more in return.

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Ripple has reiterated that any requests for XRP transfers are scams and urges users to report such activities to the relevant authorities.

Additionally, Ripple has warned about potential fraud related to its RLUSD stablecoin testing. Although the company has begun private beta testing on the XRP Ledger and Ethereum mainnet, the stablecoin is not yet licensed. Ripple advises users to ignore offers of early access to RLUSD and to rely on official sources for accurate information.

Earlier claims that 1 billion RLUSD tokens had been issued are false, and Ripple urges the community to stay informed through verified channels to avoid falling victim to scams.

Alexander Stefanov