David Schwartz, the CTO of Ripple, has alerted the crypto community to the increasing prevalence of scams in the wake of XRP’s recent legal victory. As excitement grows following the court’s declaration that XRP is not a security, fraudsters are capitalizing on the situation by creating fraudulent websites to deceive unsuspecting users.
The XRP Airdrop Scam Site
In a tweet that gained significant attention, Schwartz highlighted a scam site called “holdxrp[dot]com.” This website falsely claims to offer XRP holders a massive airdrop of 100 million XRP.
With the court ruling in favor of XRP, the crypto market has witnessed heightened interest and positive sentiment toward the digital asset. Unfortunately, scammers are also taking advantage of this situation to exploit individuals for their own gains.
CAUTION: holdxrp . com is a scam site.
— David "JoelKatz" Schwartz (@JoelKatz) July 21, 2023
Read Also: Ripple CTO David Schwartz Reveals Vital Action He Failed to Take Following XRP Victory
Exploiting Enthusiasm
The fraudulent website preys on the enthusiasm surrounding XRP’s legal win, attempting to trick people into providing sensitive information or sending funds. It uses manipulative language, stating that Ripple Labs will allocate even more resources to improve the user-friendliness and accessibility of XRP and RippleNet in 2023.
The site also impersonates Ripple CEO Brad Garlinghouse, falsely promising a significant airdrop pool of 100 million XRP to celebrate the digital asset’s global influence and show gratitude to the Ripple community.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Ripple CTO’s Caution
David Schwartz’s timely warning serves to protect users from falling victim to such scams. He advises XRP holders to remain vigilant and avoid engaging with suspicious websites or offers that promise unrealistic rewards.
Schwartz has been actively vocal about the rise of crypto scams within the community, striving to balance protecting users and avoiding baseless accusations against legitimate projects.
Read Also: Ripple CTO David Schwartz Debunks “Ripple Created XRP” Narrative, Tells Real Story
Ripple’s Stance
Schwartz reiterates that Ripple is not conducting any airdrops and urges users to be cautious of any such claims made by questionable sources. As a representative of Ripple, he consistently emphasizes the need for users to exercise caution and stay informed to protect themselves from fraudulent activities in the crypto space.
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