The cryptocurrency community has raised flags about a new scam targeting XRP (XRP) investors through a fake staking program.
Online fraudsters are impersonating major cryptocurrency firms like Ripple and Binance by creating fake websites and email imposters pretending to provide staking services for XRP.
One such website includes a blog post titled “XRP staking set to debut January 2023 for retail users,” inviting users to “stake” their XRP with unrealistic returns on investment (ROI), ranging from 12% to 27%. The fake scheme attempts to rush XRP investors’ decision by stating that only the first 10,000 accounts will receive a higher ROI.
The fake website provides a well-crafted clone of Ripple’s website, ripple.com, by copying the original layout and fonts and linking some of its previous blog posts. The impersonators also attempted to add more credibility to their posts by adding information about the importance of self-custody using major hardware wallets, such as Ledger or