65 Mln XRP Wired Between Unregistered Wallets, While Reddit Discusses XRP Scam

Thu, 02/20/2020 - 10:35
Yuri Molchan
Three large amounts of XRP have been moved between anonymous wallets as Reddit discusses scammers who are using XRP to hunt for your seed phrase
Cover image via www.shutterstock.com

Ripple’s XRP is the third-largest coin on the cryptocurrency market. Along with BTC and ETH, it is often used by scammers. Recently, the analytical website Bithomp published a memo about a new XRP airdrop. Reddit users are discussing this move, calling it a scam that hunts for the seed phrases to their wallets.

Meanwhile, The XRPL Monitor page has detected several transfers that moved around 65 million XRP between unknown wallets. Part of it was moved between BitPay addresses.

Crypto scam that offers XRP

On the Bithomp website, where it tracks XRP transactions, it recently published a note that as of February 1, Ripple has released '3 bln XRP to incentivize network users'.

Tiny amounts of XRP have been spread since then. The name of the website where users are expected to get their XRP is called claimRipple.com. A Reddit user says that you are expected to provide your address and a seed phrase to claim your XRP, claiming it is a scam.

The Redditor says:

“I follow the website, which can be found in TX json. The website will redirect you to ripple website with an "ẹ" (notice the . ). They copied the real ripple website and include a news about 3 billion XRP will be release to individual XRP holder. They provide a link to bithomp website with an "ȯ" (notice the . ). You will need to provide the passphrase or address to receive free XRP.

This is what this airdrop and link do. IT'S A SCAM!!!”

Bithomp has labeled these XRP airdrops with ‘Fraud Alert’.

Image via Bithomp

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65 mln XRP transferred, BitPay involved

XRPL Monitor, The XRPL Monitor Twitter page, has shared some data on three large XRP transactions, totaling 65 mln XRP. Two of them came one after the other and transferred 44 mln XRP between anonymous crypto wallets.

Image via Twitter

The third transaction sent 21 mln XRP between wallets of the BitPay crypto payments platform.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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