Ripple has a partial victory in its legal battle against the SEC. The scammers are running several fake XRP airdrop campaigns, taking advantage of the enthusiasm in the crypto community triggered by his winning this lawsuit. Ripple CTO warns against fake XRP airdrops amid victory in SEC lawsuit.
After the victory, Ripple CTO warned against scammers!
cryptocoin.comAs you follow, Ripple has won a victory over the United States Securities and Exchange Commission in the long-running legal battle over the classification of XRP. In the midst of this development, many bad actors are displaying fake XRP airdrops to take advantage of naive market participants. On Friday, these unpleasant developments also caught the attention of Ripple’s Chief Technology Officer (CTO), David Schwartz. The blockchain architect and top XRP advocate categorically stated that there are no airdrops, giveaways, or special offers related to the San Francisco-based crypto solutions company or its recently announced win in the SEC lawsuit.
Schwarz pointed out that the rapidly spreading Ripple-branded XRP airdrops are completely fraudulent. In addition, Schwarz warned community members to avoid getting scammed or having their wallets emptied. Accordingly, Ripple CTO wrote:
Many scammers take advantage of recent good news to try to cheat and steal. There are no airdrops, gifts or special offers related to this decision.
Community reactions
XRPArmy members have confirmed that they have seen many of these fake XRP airdrop campaigns. That’s why Schwartz got credit for his timely update. Likewise, numerous community members have confirmed that they have reported several Twitter accounts impersonating both Ripple CEO Brad Garlinghose and CTO David Schwartz.
Unfortunately, a user named Rockoban revealed that he fell for the XRP airdrop scam. However, he did not disclose the extent of his loss. On these grounds, Casey Dee urged the XRP community to aggressively report fake accounts to prevent more people from being deprived of their XRP assets.
Rising copycat scam
Counterfeit scams continue to rise. In fact, the two top Ripple executives, Brad Garlinghouse and David Schwartz, have been the primary targets of these impersonators. Last week, he showcased a fake 100 million XRP airdrop using a Twitter account pretending to be a scammer Schwartz. The fake campaign named after Brad Garlinghouse adopts a pyramid scheme. Specifically, it requires participants to send any amount of XRP to a designated address with the promise of a refund with 1000% of the amount sent.
Schwartz’s warning is quite timely, given the recent developments regarding the Ripple and SEC lawsuit. This is the general opinion of the XRP community. Judge Analisa Torres ruled in favor of XRP on Thursday. Thus, she stated that the digital token is not a security. This decision resulted in an increased accumulation of XRP. It has also pushed the asset to be the fourth largest cryptocurrency by market capitalization at press time. This aroused the appetite of the scammers.
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