No, Ripple CEO Brad Garlinghouse is not giving away XRP

Brad Garlinghouse, digital payments decacorn Ripple, shares an important public service announcement for every XRP army. Even though he makes similar statements periodically, some crypto owners still fall victim to the most primitive token scam ever.

Ripple CEO Brad Garlinghouse: XRP scams on fire

Garlinghouse took to Twitter to reiterate his PSA on crypto scams. According to him, a series of crypto scams targets the XRP community. According to Garlinghouse, all advertising campaigns that promise to “re-double” the XRP investments of their participants (sending back two XRP for every XRP sent to a special address) are blatant scams.

Neither he nor his company, Ripple, hold such promotions. Any attempt to profit from them will result in financial loss. Millions of XRP tokens are sent monthly to the addresses of scammers. Fraudsters are laundering crypto through tier 1 CEX platforms or crypto mixers.

Additionally, Garlinghouse said thanks to all crypto enthusiasts who reported scams, and he urged other XRP holders to be on the lookout for malicious activities. A week ago, someone sent $1.12 in Bitcoin to an address belonging to a fake giveaway scam organized by Michael Saylor, CEO of Microstrategy.

Saylor admitted that his team reported 489 scams of this type on YouTube in just one week. Their lifespan is no more than a few hours, but scammers still manage to raise millions of dollars from lured investors.

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