Scammers who know about the usage of cryptocurrency have managed to strike again with Ripple. They capitalized on the success of Ripple by giving a fraudulent XRP giveaway initiative.
A news publication on Blockchain News, scammers, have attacked Ripple with an XRP incentive plan token in a fraudulent giveaway. Their XRP token was able to reach new heights recently and to the prying eyes of scammers too.
XRP managed to hit a new 2-year high after being on the sidelines for quite a while. But luck struck them when they least expected, and within a week, XRP was strong, beating both Bitcoin (BTC) and Ethereum (ETH).
News reports that the profits were more than double the price initially. The Ripple team instantly took down the fake XRP giveaway. Brad Garlinghouse, who is the CEO of Ripple, said that scammers are using internationalized domain names.
The scams are part of community incentive programs that are hard to ignore. Besides, they can remain on the website for months. The company also warned users about the scammers using the fintech firm’s incentive programs.
Gerardo Zuñiga, who is an IT auditor supervisor, had this to tweet.
The “fake email and fraudulent website,” or known as XRP incentive plans, are not true and part of the company. A news article on NOBSU also confirmed the same. They had assured their traders that they would never issue any XRP giveaways.
Users may want to ensure that they always double-check the emails and incentive plans of the firm before registering on them. Though at times, the emails can be legitimate and actually sent out by the company.
However, fake domain names are using them for phishing and spoofing attacks. Thanks to the immense use of cryptocurrency, hackers are on the lookout for ill-gotten wealth. It is to be known that the legal team of Ripple had sued YouTube in the XRP cryptocurrency scam.
The company said that YouTube generated income through these scams that hurt the crypto market. They made cash through paid advertisements that run in between the video content on their social video platform.