Ripple has launched a new portal designed to give cryptocurrency investors a way to report malicious activity related to XRP Ledger.
Ripple created a page where users can accuse scammers related to XRP Ledger
Now people can fill out a request form asking Ripple to explore a long list of unusual activities, including theft, fraud, fraud, suspicious exchanges, money laundering, unauthorized transactions, and other financial crimes. While it will investigate issues connected to XRP Ledger, Ripple cannot reverse transactions because the XRP ledger is decentralized.
Ripple’s side stated:
“Ledger and the users of the XRP Ledger are not customers of Ripple. Therefore, Ripple does not have the power to reverse transactions, even in the case of a reported financial loss (ex: theft).”
By sending a request to Ripple, the company says consumers are allowing the company to report the issue to U.S. lawmakers at federal, state, or local levels. Ripple may also report this issue to international law enforcement or regulatory authorities.
Source: Ripple
Besides, XRP users are not Ripple customers. Therefore, an “abnormal activity report” may be used to help identify and prevent fraud, but it does not mean that the company must compensate the victim.
Interestingly, Ripple also encourages users to report suspected violations, money laundering, unauthorized transactions, and other financial crimes. In other words, the company urges the Ripple community to alert itself and notify them when illegal activity is likely to occur. If you find suspicious activity, send it to Ripple here.
Read more:
- RippleNet Partner Ria Money Transfer Cooperates With Austrian Post’s Bank99, XRP Price May Soon Fall To $ 0.20
- Ripple Appears On The List Of The Top 100 Biggest Cross-Border Payment Companies Together With The Likes Of UBS And PayPal