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HomeCrypto NewsMarketXRP Community Warned of Fraudulent XRP Token Allocation Program

XRP Community Warned of Fraudulent XRP Token Allocation Program


XRP community faces another massively targeted phishing email promising XRP token distribution supposedly from Ripple Labs.

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In a recent tweet, a Scotland-based XRP enthusiast, identified as Derekareid, issued a cautionary message to fellow crypto users about a phishing email that promised XRP token distribution.

Derekareid shared screenshots of the fake email he received from [email protected], a clearly sham email attempting to deceive XRP holders with a fraudulent token allocation program. He called on Digital Perspectives, a prominent figure in the XRP community, to help disseminate the message.

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This incident raises concerns about the growing number of scams targeting unsuspecting crypto enthusiasts.

The Phishing Email Content

The supposed “XRP Token Allocation Program Registration Open Today” email claimed to be from Ripple Labs, offering XRP tokens to community members, fans, and investors based on their network activity.

The message stated that Ripple intended to redistribute XRP tokens held in reserve, thereby increasing liquidity and incentivizing XRP holders. It urged recipients to register and claim their share of the tokens by accessing the provided fraud Token Allocation Tool.

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Ironically, the email emphasized the importance of self-custody and key ownership awareness. It further mentioned a 15% token increase for opening new XRP accounts and rewards for engaging in activities like NFT collection and DEX trading.

Recent Scam Attempts at XRP Holders

Derekareid’s post garnered attention from other crypto users, with many people confirming receipt of a similar email. Interestingly one individual claimed to have received 15 of the same email sent to Derekareid.

These responses highlight the extent of the scam’s reach and the need for increased vigilance within the crypto community. Notably, phishing emails distributed to unsuspecting XRP enthusiasts have remained a recurring team in the crypto space.

Two months ago, The Crypto Basic reported a scammer impersonating Coinbase, one of the leading crypto exchanges, about the launch of an XRP staking system. A few months before, the bad actors had targeted Binance users regarding an imaginary XRP staking program.

Ultimately, crypto users are advised to remain informed, stay updated on security practices, and exercise due diligence to protect themselves and their digital assets from scams and fraudulent schemes.

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Disclaimer: 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’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

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