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Suspicious XRP Clone Trending After Going up 400%: Scam Alert

Wed, 01/18/2023 - 12:55
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Gamza Khanzadaev
Dubious XRP clone is trending after 400% price rise, what is likely to be yet another scam
Suspicious XRP Clone Trending After Going up 400%: Scam Alert
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A token with a seemingly familiar name but an unfamiliar prefix got into the top three most trending crypto assets on CoinMarketCap. Xrp Classic is one of the most interesting cryptocurrencies at the moment but little is known about what it is and how it relates to XRP.

What is Xrp Classic (XRPC)?

According to the same portal, Xrp Classic token is a token created on the BEP-20 network, which is already suspicious primarily because of the number of blank tokens that are easy and cheap to create on that network. There is no contract on XRP Ledger for this asset.

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Examining the website and the project's whitepaper raises new suspicions about its relevance and authenticity. According to the whitepaper, Xrp Classic is a ReFi project, which stands for regenerative finance. Funny, but the whole presentation about it looks like it was copied from somewhere and pasted without a single mention of the project or the token at all.

On the website, however, there is a roadmap for the project, which involves working on increasing the number of token holders, where in the end the token will have to be listed on a major exchange.

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At the same time, the token has risen 400% in the last 30 days, which apparently combined with the XRP in the name have caught the attention of portal users and set it trending.

Beware of scammers!

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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.