A cryptocurrency investigator highlights a fake email that pretends to be from Ripple, promoting a fraudulent XRP giveaway.
Cybercriminals are targeting members of the XRP community in new attacks aimed at stealing their money. A cryptocurrency investigator named @_XRP_QUEEN has shared a post about hackers pretending to be Ripple Labs and sending harmful emails to XRP community members.
Even though the imposter pretended to be Ripple, they sent harmful emails from an address not associated with the blockchain payments company.
In the email, the bad actors falsely claimed that Ripple had initiated a “300M RippleNet Accelerator Program” to boost the usage of XRP.
🚨 New fraud alert 🚨
Stay Safe fam 💜💜 pic.twitter.com/WBEpst0L4F
— A N G I Ξ 🇨🇦 🇬🇷 🏴☠️🪝 (@_XRP_QUEEN) October 12, 2023
The email told recipients that they could participate in the program by logging into their “XRP Toolkit account.” However, the attackers included a button in the email that, if clicked, could lead to the loss of funds from the user’s crypto wallets. This is a reminder to exercise caution when clicking on links in emails, as it could give attackers access to your wallet and lead to financial losses.
RippleNet Accelerator Program Explained
It’s important to note that Ripple initiated the official Accelerator Program on October 13, 2017, with the aim of increasing the use and volume of XRP. Ripple allocated $300 million worth of XRP from its holdings to fund this program.
The program has two main parts: a volume rebate for XRP and a marketing incentive to encourage adoption.
When Ripple launched the RippleNet Accelerator Program, they did not send emails to XRP holders to inform them about it. Instead, they made the announcement on their official website.
Not a New Development
Cybercriminals have been targeting unsuspecting XRP investors for a while. They often promote fake XRP giveaways on social media platforms. Sometimes, they go to the extent of hacking the accounts of prominent XRP community members to promote these fake giveaways.
For example, after Ripple’s victory against the SEC, scammers gained control of Attorney Jeremy Hogan’s X account to promote a fake XRP giveaway. They posted a tweet from his account, encouraging people to get free tokens to celebrate XRP’s success. Fortunately, Attorney Hogan was able to regain control of his account.
Ripple’s CTO, David Schwartz, has been warning the XRP community about these scams. He recently cautioned the community not to engage with a phishing website promoting a massive 100 million XRP airdrop.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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