Recently, we reported that the legal battle between San Francisco-based fintech firm Ripple and the United States Securities and Exchange Commission (SEC) is nearing its end after a court ruling in favor of Ripple, with both parties expressing satisfaction with the outcome.
It is shocking that the end of the XRP lawsuit has led to a new wave of crypto scams targeting unsuspecting investors. Some scammers are using the high-profile case as a cover to trick people into falling for fake crypto token airdrops, promising free XRP tokens in exchange for personal information or cryptocurrency.
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These scams are becoming increasingly common as the lawsuit draws more attention. Scammers often create fake web pages or social media profiles that look legitimate, claiming to offer XRP giveaways. However, these are designed to steal funds or sensitive information from victims.
The Ripple team has warned its users to be cautious and to verify any crypto token airdrop offers before participating. They advise never to send digital assets or share any private, crucial information with unknown people via any platform. It’s important to stay vigilant, especially in times of uncertainty when scammers are most active.
Scammers are using Ripple’s upcoming RLUSD stablecoin fame to trick people. Ripple has warned that they will never ask for XRP transfers or promise guaranteed returns. With RLUSD’s launch nearing, scammers are taking advantage by creating fake offers to steal personal information or money. Ripple urges everyone to be careful and check any offers related to RLUSD to avoid being scammed.
XRP price action
The current trading price of XRP is $0.58, which is 30% higher over the past 30 days. The price mainly surged in the last few days following positive news from the XRP lawsuit.
Read also: Tether Faces Twin Threats: Lawsuit and MiCA Regulations Loom Over USDT Stability
Ripple vs. SEC Lawsuit Fallout Sparks Surge in Crypto Airdrop Scams: Scam Alert
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