Main navigation

XRP: Crypto Wallet Provider Ledger Issues Important Alert to XRP Holders

Tue, 05/02/2023 - 11:40
article image
Tomiwabold Olajide
XRP community targeted by this new form of fund attack, Ledger issues alert
XRP: Crypto Wallet Provider Ledger Issues Important Alert to XRP Holders
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Within the last 24 hours, crypto wallet provider Ledger has issued important new alerts to the XRP community.

Most recently, Ledger warned of fraudulent token allocation program scams, targeting the XRP community in particular. It warns XRP holders to avoid token allocation claims, as these aim to steal their XRP funds. This is because these scams could give unauthorized individuals control over XRP accounts.

It urges XRP users to take the proactive measure of not sharing their 24-word recovery phrase with anyone, including Ledger employees, and not entering this phase into any app or website, while warning that anyone who demands the recovery phrase might be a scammer.

In a separate tweet, Ledger also addressed concerns regarding some customers experiencing errors when trying to add an XRP account or send XRP through Ledger Live Mobile.

It assures that this does not affect the security of funds, which are SAFU. Ledger urges users to migrate to the latest mobile app version if needed, as it works to restore Ledger Live Mobile's compatibility with XRP.

In the meantime, it warns XRP holders to beware of bad actors who would want to take advantage of the situation and urges them not to send personal messages to anyone claiming to be from Ledger or enter their phrases into any website.

Ledger says it will continue to update the XRP community once more information is available.

Recently, the crypto wallet provider issued a warning about a scam strategy that targets unsuspecting XRP holders, claiming that fraudsters have produced a fake version of the Ledger Live app to steal funds.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.