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Ripple CTO Cautions Against This Fake XRP Site

Fri, 07/21/2023 - 08:11
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Godfrey Benjamin
Ripple CTO David Schwartz has cautioned against fake XRP website
Ripple CTO Cautions Against This Fake XRP Site
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David Schwartz, the chief technical officer (CTO) of American blockchain payments company Ripple Labs Inc has come out to label a fake website trying to form an affiliation with the XRP coin. Taking to his Twitter account, Schwartz cautioned that the website called "holdxrp . com" is a scam site, a call for users to be careful.

XRP Buyback Frontman Offers to Create Bank, Ex-Ripple Official Alerts Scam

While not recommended, a visit to the site shows a Medium-like interface containing the announcement of a fake airdrop featuring a blog post from Brad Garlinghouse, the CEO of Ripple Labs Inc. Surprisingly, the post has received a phony 5,326 claps, a figure that is possibly engineered to give the website and the announcement some legitimacy.

The announcement contains a number of phishing links which, when clicked, might result in unforeseen exploitation of the user's funds. The fraud in creating the site was also manifested with the impersonation of top figures in the industry like Ben Armstrong (BitBoy Crypto), Carl from the Moon and Crypto Rover, among others, to comment on the post.

XRP is new target

Since the XRP ruling in which Judge Analisa Torres declared that secondary sales of the cryptocurrency are not securities, there have been many scams linked to the token and Ripple as a whole. With the social interest in the token now at its peak, many bad actors are trying to get a slice of the cake by creating phony airdrops and giveaways just to lure unsuspecting community members.

XRP Scam Alert: India's State Governor Hacked to Promote Fake Ripple XRP Airdrop

While David Schwartz has been warning of related scams for some time now, the top genuine XRP-linked Twitter accounts have supported his calls to boycott many websites.

It is worth noting that bad actors exist in crypto, the reason why many platforms have been hacked to date, and XRP community members need to know that announcements that do not come from verified Ripple platforms are most likely fake and should be ignored.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.