XRP Investors Beware! Ripple CEO Warns of Soaring Crypto Scams
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Ripple CEO Brad Garlinghouse has issued a stern warning to XRP investors about a significant increase in fraudulent activities targeting them on platforms like YouTube. Scammers are creating fake accounts impersonating Ripple and its executives, often using convincing usernames and channel designs. These fraudulent accounts lure victims with promises of giveaways, rewards, or investment multipliers, ultimately requesting XRP in exchange for a larger return. Garlinghouse emphasizes that neither he nor Ripple will ever ask for XRP from investors. This surge in scams coincides with XRP's recent price surge, exceeding $3.6, and positive developments like Ripple's partial legal victory against the SEC. This pattern, according to Garlinghouse, is typical during market recoveries as malicious actors exploit investor excitement. Ripple is actively reporting these fraudulent accounts and urges its community to do the same, stressing the importance of verifying accounts and links before engaging. The company highlights that its official channels are the only trusted sources of information. Garlinghouse's warning serves as a reminder to investors to remain vigilant and avoid schemes that seem too good to be true, a common characteristic of these crypto scams. The rise in fraudulent activity underscores a broader threat of escalating crypto scams that tend to increase during periods of market optimism and price increases. This highlights the need for increased caution and due diligence among all cryptocurrency investors, not just those holding XRP. The sophistication of these scams, using established platforms like YouTube, emphasizes the importance of critical thinking and verification before engaging with any unsolicited offers or promotions.
(Source: https://www.newsbtc.com/news/ripple/ripple-ceo-sounds-alarm/)
