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No, Ripple Will Not Give Away 100 Million XRP: Scam Alert

Wed, 07/26/2023 - 08:48
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Gamza Khanzadaev
XRP community targeted by Ripple CTO imposter in new scam attack
No, Ripple Will Not Give Away 100 Million XRP: Scam Alert
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A new kind of scam has begun to spread on X, formerly known as Twitter, this time involving accounts spoofing the identity of David Schwartz, one of the architects of XRPL, current CTO at Ripple, and an extremely popular community member.

XRP Community Should Beware of This Scam Attack: Details

In fact, the scamming method is not new, with fake accounts filling every possible media space with a ton of tweets about giving away hundreds of millions of XRP by clicking on a "magic" link. However, in the past, scammers used the identity of Ripple CEO Brad Garlinghouse for their purposes. Now they seem to have switched to Schwartz.

It is likely that a sophisticated Crypto Twitter user, as well as a longtime member of the XRP community, is unlikely to fall for such an uncomplicated scam. Nevertheless, XRP has been the number one topic in the industry for the past two weeks and is obviously attracting newbies and not-so-experienced investors, who cannot help but jump in to see what the 100 million XRP giveaway is all about.

Failed war on bots

In general, the problem with scam bots on Twitter, and now X, has existed for a long time, and the war against them, declared by Elon Musk back when he first became the owner of the social network, seems to be unsuccessful.

Ripple and XRP Scam Bots Flood Twitter: Elon Musk Called to Intervene

At some point after July 13, for example, the problem with bots targeting the same XRP community reached such proportions that prominent members like John Deaton had to publicly call on Musk for help. But things have not moved an inch.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.