A hacker hacked an Indian politician’s Twitter account & promoted his ponzi XRP investment scheme in the crypto Twitter community.
XRP is a popular Proof-of-stake (PoS) technology-based crypto token. Ripple Labs is the engineering team behind this coin and Ripple is a San Francisco-based Fintech firm that provides cross-border payment services with the use of XRP coin under a decentralised medium without impacting the natural trade price of XRP coin. Brad Garlinghouse is the current CEO of Ripple company.
On 1 March 2023, A tweet from the official Twitter account of the “Indian Governor of Madhya Pradesh” came to light in the crypto sector because of a misleading crypto investment tweet.
It seems that, mentioned Twitter account was hacked or is still under the control of any bad actor. That bad actor tweeted a link of a third-party website where they are claiming to give an XRP token as a reward.
Indeed the mentioned ponzi website is asking for XRP investment & promising to give double the amount of investment, which is a common crypto fraud technique in the crypto sector.
So far, no Crypto Twitter user talked about this tweet & neither has any person reported his investment gain/loss on the mentioned website but here all the small & big crypto investors needed to remain aware of such fraud schemes.
In the present time, Ripple is not in a better situation in the United States because of a lawsuit. In December 2020, the United States Securities and Exchange Commission (SEC) initiated a lawsuit against Ripple executives & Ripple Labs.
Through the lawsuit, the SEC agency claimed that Ripple executives violated federal securities law because they sold more than $1.3 billion worth of unregistered XRP securities publicly.
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