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

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Thu, 02/20/2020 - 10:35
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  • 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

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Contents

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’.

XRP scam
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.

XRP wired
Image via Twitter

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

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.

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Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

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Sun, 03/29/2020 - 19:38
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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

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Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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