XRP YouTube Scams Target Users of Binance, Crypto.com, Coinbase, Kraken: Profits Calculated by Analysts

It looks like the teams behind YouTube and Twitter don’t even try to stop XRP fake ‘airdrops’ from being aggressively promoted on both platforms. Despite the fact that the design of this particular scam is really ingenious, analysts highlight that the malefactors still obtain breathtaking profits.


Is It Lucrative to Be an XRP Scammer?


XRPlorer Forensics, which addressed the concept of combating and preventing all sorts of damaging behavior with XRP tokens, has calculated the profitability of one XRP fake airdrop. The team also indicated the methods utilized by gullible XRP holders who sent their XRP riches to scammers.


According to the opinion of the experts, which was shared in their recent tweet, victims of XRP scams have access to the accounts of users with Binance, Crypto.com, Coinbase, Kraken, as well as the small Dutch-incorporated platform LiteBit.


The analysts also calculated the combined profits of scammers for one-day promotion of fake airdrops on behalf of Ripple’s CEO Brad Garlinghouse. The unveiled that scammers received 206,000 XRP in a single day.


At press time, XRP was changing hands at $0.2955 on several major spot exchanges. That being said, only a single group of fraudsters obtain almost $60,000 a day.


No Free Lunch in This World


The researchers also tracked down the ways the scammers try to shuffle the funds. Apart from Binance, they will barely use unknown platforms that have low liquidity and primitive security requirements.


Typically, all XRP scams use the same model. Fraudsters announce that Ripple Inc. will redouble every amount of XRP sent to a special address ‘to support the community’, ‘to give back to society’, ‘to celebrate development milestone’ etc. Like in every exit scam, the fraudsters will just take the XRP and leave.


Fake airdrop may be accompanied with broadcasts of old interviews by Ripple’s CEO, blog posts, or even Change.org petitions that are allegedly initiated by Mr. Garlinghouse.


👉 MUST READ
No, Ripple Inc. Is Not Reallocating XRP: Realistic Scam Disclosed


However, some XRP scams are well-designed. As previously covered by CryptoComes, the malefactors sent a couple of letters on behalf of the leading crypto media outlet team CoinDdesk. The letters informed its readers with an ‘XRP reallocation’ launched by Ripple Inc.


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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)