Ledger Warns XRP Holders About a New Scam

Ledger Warns XRP Holders About a New Scam

Ledger, a well-known cryptocurrency hardware wallet, has alerted its users to a fresh fraud scheme that preys on naive XRP owners.

According to Ledger, fraudsters are impersonating company personnel to steal consumers’ XRP.

Ledger claimed in a recent tweet that scammers have developed a fake version of the Ledger Live app to siphon off customers’ “hard-earned XRP.”

Remarkably, these criminals persuade Ledger users to divulge their 24-word recovery phrase while assuming the identity of company workers. 

If consumers divulge their recovery phrase, scammers can access their XRP currencies without restriction.

Ledger issues a warning:

“Scammers are using fake Ledger Live apps & posing as Ledger employees to steal your hard-earned XRP.”

Related: https://www.fxcryptonews.com/is-the-sec-adjusting-its-position-on-xrp-classification-as-a-security/ 

Tips for Holders Against Scams

It’s important to note that neither Ledger nor the number of users victimized by these most recent scam techniques was disclosed. 

To prevent owners of XRP from falling victim to these con artists, the top provider of crypto hardware wallets gave various suggestions. 

Ledger has advised owners of XRP not to enter their recovery phrase into any software or website.

Additionally, it warned users to be on the lookout for unsolicited messages from criminals posing as its employees. 

The business has never requested that clients send their recovery phrases over DMs.

Ledger also provided a screenshot of its official Twitter account so users could recognize phony tweets and accounts.

Ledger also posted an image of the Twitter account for official support.

XRP Scams Not Surprising

Scammers have recently started several efforts to defraud investors of their XRP tokens.

Scammers used a hack of News 24’s official Twitter account earlier this month to advertise a false giveaway hoax. 

These fraudulent actors claimed through a tweet from News 24 that Ripple CEO Brad Garlinghouse was providing a sizable 100 million XRP airdrop to “Ripple users” as thanks for their ongoing support for the project. 

To make it possible for interested “Ripple users” to participate in the giveaway, it included a link to a website draining your wallet.

Similarly, the criminal organization also gained access to the Twitter account of the Indian High Commission in Malawi to spread the same giveaway hoax.

The various attempts scammers make to steal XRP from investors are unsurprising. 

If the court rules in favor of Ripple against the Securities and Exchange Commission, the price of XRP is anticipated to skyrocket.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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