Ripple warns investors against fake content on the network, which in practice is a trap for XRP holders. Criminals try to extort company tokens from unwary investors. In this text, we advise you how to avoid falling victim to criminals.
Ripple warns against scam
Ripple has noticed a “large increase in fake ‘live streams’ on YouTube” showing the Ripple Swell conference that took place earlier this month.
Ripple will NEVER ask you to send us XRP. Stay tuned!
– warns the company, adding that during the mentioned live broadcasts, fraudsters encouraged people to send them XRP tokens. This is a way to steal.
Ripple recalled its warning from July, when it informed about criminals setting up or taking over YouTube accounts, which were then stylized as those belonging to the XRP issuer:
We’ve noticed an increase in XRP scams on YouTube, with fraudsters stealing accounts and then updating the site to impersonate an official Ripple account. Reminder: Ripple or our executives will NEVER ask you to send us XRP.
To avoid being scammed, it is worth ignoring messages from alleged “managers” from Ripple or other well-known companies. Moreover, it is not worth being simply naive and not believing in promises that if we send someone X tokens, we will receive twice as many in response.
How not to fall for scammers?
One of the most important safety rules in the cryptocurrency world is to be careful – especially when promises of “sure profits without risk” are made. If someone assures you that you will earn a certain percentage in a short period of time, they are most likely trying to rob you.
Another foundation of security is the protection of private keys. This is the only proof of ownership of your funds. No legally operating exchange, wallet or technical support will ask you to provide them. Giving them to anyone means you immediately lose control over your cryptocurrencies.
Before investing in any project, it is worth conducting thorough research. Check who is creating the project, what its documentation looks like, whether the team is transparent and whether there is actually a product to be developed.
