David Schwartz, Ripple’s Chief Technology Officer, warns investors of a scam website that promises to give away XRP as scammers target unsuspecting users with false airdrop offers amidst the legal victory frenzy.
With XRP recently securing legal victories, fraudulent activities have been on the rise. Exploiting the excitement surrounding the victories, scammers are creating fraudulent websites to deceive unsuspecting users.
In a tweet that garnered widespread attention, Schwartz sounded the alarm about a specific scam website “holdxrp.com” falsely claiming to offer a massive airdrop of 100 million XRP to Ripple users.
As XRP is now declared as non-security by the courts. the interest and positive sentiment in the cryptocurrency market are growing. However, this development has also caught the attention of scammers who are trying to take advantage of the situation for illicit gains.
Earlier this week, as reported by “Crypto Basic,” a senior Fox journalist unintentionally attracted over 500,000 views to a scam account promoting an XRP giveaway.
The fraudulent website capitalizes on people’s enthusiasm about XRP’s legal victories and attempts to lure individuals into providing sensitive information or sending funds.
It uses deceptive language, claiming that Ripple Labs will allocate more resources in 2023 to make XRP and RippleNet more user-friendly and accessible.
The website further impersonates Ripple’s CEO, Brad Garlinghouse, falsely promising a substantial airdrop pool of 100 million XRP to celebrate the global impact of the digital asset and show gratitude to the Ripple community.
Ripple’s CTO’s timely warning serves to protect users from falling victim to such scams. He urges XRP holders to remain vigilant and avoid engaging with suspicious websites or offers promising unrealistic rewards.
It is worth noting that Schwartz has been outspoken about the rise of crypto scams within the crypto community. In March of this year, he shared his views on exposing scams on Twitter, balancing the need to protect users while avoiding baseless accusations against legitimate projects.
In conclusion, Schwartz reiterates on behalf of Ripple that the company does not conduct any airdrops, and users should exercise caution regarding any such claims from dubious sources.