Recently, a piece of news regarding a clone of XRP, referred to as the RP Classic (XRPC), has piqued the interest of several investors. Many people are involved in crypto who aren't aware of the questionable behavior of the XRPC coin.
There have been multiple instances of individuals impersonating Ripple-associated entities and luring XRP users with shady money-making financial products that are not precisely backed by accredited contracts or regulatory oversight.
These instances have occurred in connection with the XRP crypto currency. The XRP hoax was also promoted (1) on the Twitter Account of GOL TV, which is an American sportscaster. This happened as a result of a peculiar hacking incident involving Twitter accounts.
The con artists have been known to pose as Mr. Garlinghouse on several occasions and provide an incredibly alluring investment opportunity, such as the conventional doubling of one's money.
People who take the bait end up losing their money and having few options for getting it back once they've done so.
Scammers Are Becoming Bolder
This XRP fraud, which is visible on a variety of sites at an international level, is becoming difficult to detect because its antics continue to increase consistently with each passing day.
Fraudsters are always developing new tactics to stay one step ahead of the ever-evolving detection strategies used by the most significant virtual asset exchange, law-enforcement agencies, and other regulatory authorities. These fraudsters learn new methods daily.
The criminals are technically actors that undertake fraudulent activities that victimize innocent XRP holders by using false accounts, the improper exploitation of public sentiments, misstatements of identities, multi-level promotional offers, intricate phishing networks, and other advanced tactics.
Innocent civilians who have not previously dealt with instances like these are typically the ones who fall prey to these strategies, even though they may appear simple and not particularly appealing.
Before making any financial investments, it is essential, as a result, to verify the information from a reputable authority or source. Another piece of advice is to never move money to an account that cannot be confirmed without conducting a significant investigation.
The data aggregator for the crypto currency market known as CoinMarketCap notes (1) that it is the third most sought-after asset.
According to the data provided by CoinMarketCap, the price of XRPC has increased by 442.185% over the previous thirty days. On the other hand, there isn't much information on the coin, even though it has a contract that links back to Binance's BNB Chain.
According to the website for the project, the purpose of the project is to develop solutions to make the crypto currency business a better and safer environment.
The concept behind the project will be carried out in four stages, with the last one having the capacity to create the project's blockchain. Even if all of this seems encouraging, some publications on the vision aspect raise suspicions because they suggest that the token is most likely a fraud.
In addition, unlike what the name may indicate, it does not have any connection to Ripple's XRP Ledger or the coin that it uses. There is not yet an agreement on the XRP Ledger blockchain with a name identical to the project's contract name.