Business, Cryptocurrency News, Top Stories

Ongoing Ripple Phishing Scam – Over 2,100,000 XRP Stolen Till Date.

Recently on 15th June, crypto forensics experts from ‘Xrplorer’ has warned of a phishing scam where hackers attempt to steal the keys of Ripple [XRP] users, under the false promise that Ripple is offering free tokens.

In line with the report, the scam campaign, whose origin dates back to around 17th Jan, 2020, began randomly mailing memo messages with minimal XRP amounts that said:

“Starting 1st Feb, 2020, Ripple is releasing 3 Bln XRP to incentivize network users. Get 25% more XRP added to your account balance in only few minutes.”

The scammers linked to a web-site inside the memo impersonating the Ripple’s Insight blog, with the message of the alleged “grand giveaway” promoted by Ripple itself .

Using Similar Domains To Fraud People

The scam’s main feature is that it looks similar to Ripple websites and appears legitimate on first look, not only due to the precise replicas of the templates employed to build the original website but also the scammers also use “homoglyph” domains.

A homoglyph can be understood as a character that can be substituted for an another, making it harder to identify quickly. That’s why rather than the first domain “ripple.com,” the scammers acquired the domain “rípple.com” and use it on fake sites to appear as legitimate at first look.

As per Xrplorer, a new upgraded wave of phishing attacks emerged in May 2020. This time, it had been not with payment memos, but spam emails targeting people curious about XRP.

Ripple Stolen Till Date

However at the reporting time, the scammers have already managed to steal over 2,100,000 XRP [valued at $ 399,000 USD] and laundered around 1,980,000 XRP [$ 376,200], mainly via swap services like ChangeNOW and CoinSwitch, consistent with the report.

As reported earlier on 29th April, YouTube videos of Garlinghouse periodically popped up within the market with a fake 50 Mln XRP airdrop. Ripple considered the platform’s reaction time in removing such content insufficient and filed a legal case against YouTube in April.

Leave a Comment

Your email address will not be published. Required fields are marked *