New Surge in XRP-Related Scams Raises Concerns About Elon Musk's Anti-Fraud Measures

New surge in XRP-related scams raises concerns about the effectiveness of Elon Musk's anti-fraud measures. Many crypto users express disappointment in the platform's ability to control spam and malicious activity. Ripple's popularity and upcoming celebratory event contribute to the rise in scams.

Posted 8 months ago in Altcoins

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A new surge in XRP-related scams on social media platform X, formerly known as Twitter, has raised questions about the effectiveness of owner Elon Musk's efforts to combat fraudulent activity.

Users have been inundated with posts promising a significant XRP airdrop, leading to frustration and concern among the crypto community. Many are questioning the platform's ability to control spam and malicious activity, with notable influencer Coach K Crypto (@Coachkcrypto) directly addressing Elon Musk and asking why scam posts are not being banned.

Musk previously claimed that X had eliminated 90% of scams, but multiple reports suggest that fraudulent activity, especially in the crypto space, has not significantly decreased.

Ripple's popularity and recent legal victories have made it a prime target for scammers. The increased media attention surrounding Ripple and the XRP token has drawn more bad actors looking to exploit unsuspecting investors.

Ripple CEO Brad Garlinghouse's announcement of a celebratory event in New York City has further contributed to the rise in scams. Scheduled for September 29, the event is expected to mark a significant legal victory for Ripple against the U.S. Securities and Exchange Commission.

Last updated 9/10/2023, 3:01:48 PM


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