Ripple, Binance impersonators target XRP holders with fake staking program

Online fraudsters are creating fake websites impersonating major cryptocurrency firms like Ripple and Binance. Stacking services For XRP

One such website is ripple.com-staking.tech, involved in A blog post titled “XRP staking set to debut January 2023 for retail users” claims users can “stake” their XRP with an unrealized return on investment (ROI) of between 12% and 27%. Invites to install. The fake scheme tries to speed up the decision of XRP investors by saying that only the first 10,000 accounts will get a high ROI.

The fake website provides a well-crafted clone of Ripple’s website, ripple.com, by copying the original layout, fonts, and linking to some of its previous blog posts. Impersonators tried to add credibility to their posts by adding information about the importance of self-custody using larger hardware wallets like Ledger or Treasure.

The scam website has many mirror domains like ripple.org.th or ripple.com.ve, which target XRP users all over the world.

The cryptocurrency community has raised flags about a new scheme targeting XRP.XRP) investors through a bogus staking program.

A phishing website that offers XRP staking services.

XRP staking website scam offers fake emails impersonating Binance and up to 31% ROI on XRP staking. An industry enthusiast, RipplePandaXRP on Twitter on January 21st Forewarn XRP community about the scam.

“Don’t send your XRP to an unknown address and always check the address to see if it’s a legitimate site,” RipplePandaXRP wrote.

Related: Ripple CEO: XRP case settled by June, SEC’s behavior ‘shameful’

That said, the real Binance exchange actually The offer Decentralized finance (DeFi) staking for XRP as part of its Binance Earn program. However, Binance’s XRP DeFi staking program only allows users to earn up to 1.4% per year.

It is important to note that XRP cannot be staked as it does not operate with a proof-of-stake system like the major PoS cryptocurrencies like Ether.ETH). instead, XRP transactions are network dependent. of “unique nodes” that agree that transactions can be processed in the network.

Investors are advised to do thorough research to ensure the legitimacy of any platform before making any investment.