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HomeCryptocurrencyLedger Warns XRP Holders of New Scam, Urges Vigilance

Ledger Warns XRP Holders of New Scam, Urges Vigilance

Cryptocurrency wallet provider Ledger has issued a fresh warning to the XRP community regarding fraudulent airdrop scams. These scams, designed to deceive unsuspecting XRP holders, aim to steal funds from community members. In light of this, Ledger is urging caution and vigilance among XRP enthusiasts.

The company recently took to Twitter to share details of the scam, including screenshots of the fraudulent ads. Notably, the scammers used a photo of Ripple CEO Brad Garlinghouse to add an air of legitimacy to their scheme.

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One of the screenshots featured a caption that read, “Brad Garlinghouse 100,000,000 XRP Annual Airdrop.” In another screenshot, the scammers laid out the steps for participants to take in the fraudulent airdrop.

In this deceitful scheme, unsuspecting XRP holders are encouraged to send any amount of XRP to a specified address. The scammers promise to return tenfold the amount sent, but only after verifying the transaction. Ledger warns community members not to fall prey to such scams and to stay cautious.

This scam is part of a growing trend in which scammers target the XRP community. Social media platforms, particularly Twitter, have become hunting grounds for malicious individuals looking to defraud crypto enthusiasts. These scammers often promote fake airdrops under the tweets of prominent XRP stakeholders. This tactic allows them to reach a larger audience of XRP enthusiasts.

Read Also: Ledger Speaks on the Security of XRP Users’ Funds: Details

In recent weeks, scammers have escalated their efforts by hacking the Twitter accounts of renowned XRP figures. Prominent lawyer Jeremy Hogan and Attorney John Deaton have both fallen victim to these hackings, with their accounts serving as platforms for promoting fake XRP giveaways.

In light of the increasing threats, Ledger has shared some safety tips with the XRP community. They advise against transferring funds to unfamiliar addresses and caution against falling for promotions that appear too good to be true. Moreover, Ledger strongly advises individuals not to share their 24-word recovery phrase with anyone.

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As the XRP community faces these ongoing scams, it is crucial for enthusiasts to remain vigilant and employ these safety measures to protect themselves from falling victim to fraudulent schemes.


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Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.
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