Cryptocurrency Scam Email Targets XRP Holders

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  • A cryptocurrency scam email pretending to unlock 2.5 billion XRP tokens for users is doing the rounds
  • Ripple has denied that they have ever or will ever give away assets
  • Any emails promising free tokens should be marked as spam/deleted

A cryptocurrency scam that promotes an airdrop to XRP token holders as part of Ripple’s assistance in a global “economic recovery” following the coronavirus pandemic has emerged. The scam, in the form of an email from Ripple Insights, comes after the company issued a notice a few weeks ago that it has never and will never offer token giveaways after an uptick in reports of similar scams.

Ripple Scam Offers Free Tokens to XRP Holders

The email, which is reminiscent of other attempts by criminals to scam holders out of their tokens, claims to come from Ripple Insights, the research department of the fourth biggest cryptocurrency. In the email, the scammers claim that Ripple is planning to help out XRP token holders financially struggling on the back of the coronavirus pandemic by unlocking 2.5 billion XRP tokens and handing them out to existing token holders.

If this sounds too good to be true it’s because it is. Ripple Insights stated just a few weeks ago that they have a blanket policy when it comes to giveaways and airdrops – they don’t do them:

We want to make it known that neither Ripple, nor any executive of our company, has offered—or ever will offer—free giveaways of digital assets. Any XRP giveaway is not endorsed by, affiliated with, maintained, authorized or sponsored by our company.

The problem of cryptocurrency scam token unlocks and giveaways in relation to Ripple is in some ways a problem of their own making – the company famously has some 55 billion XRP tokens locked away that it unlocks and sells on a regular basis, a fact that scammers have begun to turn to their advantage.

Spam those Cryptocurrency Scams

If you receive any cryptocurrency scam emails like the one above, remember that if something is too good to be true then it usually is, and DO NOT click on any links provided. There are usually methods of reporting such emails to the projects themselves, but at the very least you should mark the email as spam and delete it.