New scams targeting XRP owners are popping up on a large scale. Posing as companies like Ripple and Binance, the scammers promise hefty staking rewards to people who sign up. Victims are tricked through counterfeit websites, which are almost identical to the real versions.
Fake Ripple and Binance websites
The fake websites encourage XRP owners to stake their XRP. Unrealistically high rewards are promised for this; up to 31% return per year. In addition, victims are pressured by claims that only the first ten thousand registrations are eligible.
The websites differ almost nothing from the original Ripple and Binance websites. Even the fonts match. In addition, domain names from several countries are used to reach as many different people as possible.
With phishing emails, victims are directed to fake websites and then transfer their XRP to fraudulent contracts. Last weekend, a Twitter user brought the scam practices to the attention via Twitter.
“Don’t send your XRP to unknown addresses, and always double-check the address to make sure it’s a legitimate website.”
🚨SCAM ALERT🚨#XRPCommunitytake note of this new scam send by “Binance” stating high ROI by staking your #XRP.
DO NOT FALL FOR SUCH SCAM!!!!
Do NOT send your XRP to unknown address and ALWAYS check the address to see if it is a legit site.
STAY SAFE!@cz_binance @binance pic.twitter.com/o6gYcATbUx
— 🐼PandaRippleXRP🐼 (@RipplePandaXRP) January 21, 2023
Be careful!
The scammers’ choice to use XRP in this fake staking scam is remarkable. It is not possible to stake XRP at all. In order to be staked, a network must use a proof of stake system. Examples include Ethereum (ETH) and Cardano (ADA).
In crypto land the risks are great. Fraudulent parties are constantly lurking to steal their assets from unwitting investors. Therefore, check everything extra carefully, especially when it comes to sending assets. As mentioned earlier, the XRP phishers the impression of urgency. This is often a big warning sign. If in doubt, take your time to check everything, or contact someone who has more knowledge about the subject in question.