Ripple warns XRP holders about email scam promoting the fake giveaway

In a recent tweet, Ripple, the San Francisco-based blockchain giant, once again alerts XRP holders about a seemingly convincing email scam to promote the fake giveaway.

The phishing email shared by one of the community members seems indistinguishable from the company’s general information.

Ripple has also published a guide to the cryptocurrency community on how to detect giveaway/airdrop scams easily.

The first and foremost thing to remember is that established market players like Ripple will never give away free tokens. This trick is only used by new projects trying to resonate with marketing.

To find out if you are dealing with a legitimate giveaway, you should check the project’s official website and social media channels before sending any funds.

Ripple has always been concerned about the giveaway scams. According to XRP Ledger, these scams pocketed over 8.5 million XRP in 2019-2020.

“In 2019-2020 more than 8.5M XRP was cashed out from the same scams, through normal exchanges and swap services. For some services, a huge part of the business comes these scams.”

Source: XRP Ledger/ Twitter

Earlier, Ripple sued YouTube after failing to remove fraudulent content that harms the company’s reputation. Shortly after the lawsuit, CTO Ripple David Schwarz suspended his YouTube account on charges of impersonation.

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