The crypto projects with the biggest and most dedicated communities are frequently among the primary targets of scammers.

Ripple is no exception, with its team recently sounding the alarm about a dangerous scheme that can harm unsuspecting users.

Don’t Fall for This

Earlier today (November 12), RippleX’s team alerted on X that bad actors use fake Ripple or XRP livestreams, giveaways, or deepfake videos. Such schemes are typically deployed to deceive people into sending their funds to fraudulent addresses, offering promises of substantial returns or exclusive rewards in exchange for participation.

Ripple emphasized that its employees will never ask users to transfer assets, share wallet data, or join investment streams. It urged individuals to always verify information through the official channels of the company.

“Keep your XRP yours,” it added.

Over the summer, the Ripple community was hit by another dangerous scam. The company’s CEO, Brad Garlinghouse, warned that fraudsters targeted the XRP Army on YouTube by impersonating the entity’s official account.

“We’ve noticed an uptick of XRP scams on YouTube – scammers are stealing accounts and then updating the page to impersonate Ripple’s official account (username: Ripple). Reminder: Ripple or our execs will NEVER ask you to send us XRP,” the alert reads.

Garlinghouse assured that the company’s team will report these cases, urging the community to do the same. He also recalled the timeless warning that every crypto investor should remember: “If it sounds too good to be true, it probably is.”

Other Fraudulent Schemes

Binance and Shiba Inu are also among the crypto projects frequently targeted by malicious actors. Earlier this month, Richard Teng, the CEO of the exchange, warned about phishing scams on the messaging platform WhatsApp.

“Please stay cautious – Binance will never message you in groups about investments or funds. If in doubt, verify first,” he said.

For its part, the SHIB Army is often attacked by wrongdoers who impersonate the meme coin’s logo and offer “special” promotions to lure people and eventually embezzle their funds. In some cases, scammers even use token airdrops to deceive individuals.

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