XRP Community Targeted by Hackers in Phony Ripple Email Scam


Hackers have launched new attacks on the XRP community, with a fresh email scam that aims to deceive unsuspecting members and steal their funds. A crypto investigator known as @_XRP_QUEEN, has drawn attention to a fraudulent email that falsely promotes a non-existent XRP giveaway while posing as Ripple Labs.

Information Regarding the Fraudulent Scheme

In this elaborate scam, cybercriminals are impersonating Ripple Labs but using an email address completely unrelated to the legitimate blockchain payments company. The malicious email claims that Ripple has initiated a “300M RippleNet Accelerator Program” to enhance the volume and utility of XRP.

Recipients of the deceptive email are lured into believing they can participate in this program by logging into their “XRP Toolkit account.” To make matters worse, the attackers include a clickable button within the email, tempting users to claim their XRP.

This situation underscores the critical need for caution when dealing with links in unsolicited emails. Clicking on such links may unwittingly grant the attackers full access to one’s crypto wallet, potentially leading to a significant loss of funds.

Related article: Ripple CFO Leaves Crypto, Joins Healthcare Sector

RippleNet Accelerator Program

Ripple actually launched the official Accelerator Program on October 13, 2017, with the goal of fostering the growth of XRP’s volume and utility. 

Ripple allocated $300 million worth of XRP from its holdings for this program, which comprises two main components: a volume rebate for XRP and a marketing incentive designed to drive adoption.

Notably, during the official launch of the RippleNet Accelerator Program, Ripple did not rely on emails to inform XRP holders about the program’s commencement. Instead, the company made the announcement on its official website.

Previous Scams

Regrettably, this is not the first instance of cybercriminals targeting unsuspecting XRP investors. These fraudsters have actively promoted bogus XRP giveaways on various social media platforms. 

On occasion, they take their deceptive tactics to new heights by hijacking the accounts of prominent XRP community members to further their fake giveaways.

For instance, following Ripple’s legal victory against the SEC, scammers gained unauthorized access to Attorney Jeremy Hogan’s XRP account. 

Related also: Ripple: XRP Sees 6% Surge, QUBE Aims for $1 by 2025

They used his account to promote a fictitious XRP giveaway, exclaiming, “Celebrate XRP’s triumph with some complimentary tokens! Snag your tokens pronto from our website, and let’s get this party started!” Fortunately, Attorney Hogan was able to regain control of his account.

In response to these scams, Ripple’s Chief Technology Officer, David Schwartz, has issued several warnings to alert the XRP community. 

As reported earlier, Schwartz cautioned the community not to engage with a phishing website falsely promoting a massive 100 million XRP airdrop. Stay vigilant and exercise caution in the face of such scams to protect your assets.

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