Ripple CTO David Schwartz has issued a scam warning, alerting the crypto community to an ongoing scam attempt aimed at XRP holders and cryptocurrency enthusiasts.
Schwartz recently posted some remarks on X, and a fraudulent individual responded beneath his post, attempting to lure users into a fake Telegram group and asking them to click on a link found in his X bio.
The scammer poses as a legitimate figure, taking advantage of community trust and the promise of gains to trick unsuspecting users.
Schwartz flagged the scam in two separate instances, highlighting that the malicious actor repeatedly attempted to disseminate the same scheme under different disguises.
This is not the first time scammers have targeted crypto holders, especially in the XRP community. With Ripple's expanding popularity and increased interest in the XRP ecosystem, fraud attempts, especially through impersonation of legitimate personalities or entities, are on the rise.
Schwartz has flagged some of these scam attempts in the past, never missing a chance to highlight the fraudulent means utilized by these bad actors.
Earlier in the year, Ripple warned of an uptick in scams on the crypto market. Ripple warned the crypto community that it would never require them to send XRP - neither would Ripple executives or any other Ripple employees.
Xaman, a top XRPL wallet also issued a warning about scammers posing as Xaman Support. It made it known that the only official support is available via the Xaman Support xApp within the Xaman app, and that the Xaman team will never message them first on social media to offer assistance.
In light of this, crypto holders are urged to avoid clicking suspicious links and always verify accounts before engaging.
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