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HomeCrypto NewsMarketXRP Community Alert: Xaman App Warns Against Fake Tokens

XRP Community Alert: Xaman App Warns Against Fake Tokens

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Xaman warns XRP users and other investors about potential scams involving fake tokens while emphasizing their official stance against token issuance.

In a recent statement released by Xaman, the rebranded entity of XRPL Labs and Xumm Wallet, users have been cautioned about a potential scam involving the sale of fake Xaman tokens. 

The official communication emphasized that Xaman, like its predecessors, has no intention of issuing a token. The warning came as reports surfaced of unauthorized individuals attempting to deceive unsuspecting crypto enthusiasts by offering fraudulent Xaman tokens for sale. 

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Xaman swiftly addressed the issue, urging users to remain vigilant and refrain from engaging these unscrupulous individuals or their tokens.

Xaman’s official stance is clear: it has not issued and does not plan to issue any token associated with its brand. The company strongly advises against participating in any transactions related to the alleged Xaman tokens.

Scams and fraudulent schemes have unfortunately become prevalent within the crypto industry, targeting both newcomers and seasoned investors.

Xaman’s warning serves as a reminder for individuals to exercise caution, verify the authenticity of token offerings, and refrain from sharing personal information or engaging in financial transactions without conducting thorough research.

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XRPL Labs and Xumm Merger

Notably, this warning comes after the recent announcement from XRPL Labs and Xumm Wallet, a leading self-custody solution on XRPL. XRPL Labs is the team behind Xumm. Both entities merged to form the rebranded Xaman App, as reported by The Crypto Basic last week. 

The objective of the rebrand is to merge XRPL Labs and Xumm into a single entity, eliminate any confusion, differentiate themselves in the industry, and prepare for future retail expansion. 

As a show of solidarity, the team will proudly wear Xaman-branded shirts during the transition period. The rebranding will be a gradual process without disrupting the functionality and operations of their current products. 

Xaman remains dedicated to innovation, security, and delivering exceptional user experiences in the realms of crypto and retail.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a seasoned crypto journalist who has established himself as a trusted voice in the world of blockchain and Web3. His extensive knowledge of the crypto space enables him to break down complex concepts into accessible language.

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