Crypto Influencers Face Heat Over Fake U.S. Treasury XRP Wallet

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Crypto influencers face backlash for spreading news on a U. S. Treasury XRP wallet that turned out to be fraudulent. The fictitious U.S. Treasury wallet is linked to prominent organizations such as JPMorgan and Bank of America.

Several prominent influencer accounts started sharing content about a Treasury XRP wallet. The story quickly gained popularity on X and spread due to reposts on social media. According to a recent on-chain analysis using XRPSCAN, the wallet’s location is in the Philippines.

People’s confidence that it could be a reliable source connected to the US Treasury was further strengthened as the wallet address “rfHhX6hA54LBqA3j7r7EnCs6qyaRK2Lyfq” is also KYC verified,

Brett (@Brett_Crypto_X), a cryptocurrency analyst on X, recently proposed that there is a 40% chance that XRP will become a national reserve. This conjecture comes after discussions concerning the role of cryptocurrencies in the U.S. financial system, with XRP being mentioned prominently in prominent circles.

Many people in the crypto community are now expressing their worries. Zach Rynes, Chainlink’s community coordinator, attacked so-called “crypto-influencers” for disseminating false information throughout the XRP community.

The use of scam techniques is also growing; on sites like X, scammers are manipulating deceived users through phony accounts and phishing schemes.

Several well-known accounts, including Lenovo India and Yahoo News UK, have recently had their handles stolen to advertise scam tokens, resulting in losses of hundreds of thousands of dollars.

More advanced phishing schemes, such as those imitating Zoom domains, have stolen wallet credentials and private keys by taking advantage of blockchain’s technical flaws and trust, which makes users even more cautious.

The ripple-based token remains an attractive candidate for reserve status because of its concept and technology. Scalability, low transaction costs, and cross-border payment efficiency meet the requirements of a modernized financial system.  Ripple has also built a big worldwide network with partners from other countries to enable smooth payments.

 

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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