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XRP Scam Hit A US Sports Channel

XRP scam has raised its ugly head once again, this time invading the official Twitter account of GOL TV, a US based TV sports channel.

Scams masquerading as XRP or Ripple-affiliated entities have become a nuisance on social media offering lucrative investment opportunities that are not backed by legitimate contracts or regulatory oversight.

This time too, the scammers exploited the image of Ripple founder Brad Garlinghouse to trick users into clicking dubious links by posting too good-to-be-true easy investment schemes.

Victims who take the bait find themselves with no recovered capital and no way to recoup their lost funds.

In order to do fraudulent activities that target XRP holders, these bad actors use a variety of strategies, including false accounts, public sentiment manipulation, misrepresenting credentials, multi-level marketing scams, complex phishing networks, and more advanced techniques.

Even if these techniques are not new, unaware victims can still be taken advantage of and suffer the consequences before it is too late.

One needs to exercise restraint and look for reliable sources before investing any money or sending money in order to avoid falling for any more of these scams in the future.

That being said, XRP is in the limelight as the legal tussle with the SEC is heading toward a decisive end, with many believing that its major backer Ripple would emerge as a victory.

Brad Garlinghouse, the chief executive of blockchain firm Ripple, recently expressed optimism about the token and revealed his expectations for the resolution of the legal dispute between Ripple and the SEC in Davos.

Shortly after his statement, multiple sizable transactions of XRP have been detected, including one that might be deemed “big”, data from the top cryptocurrency tracking service Whale Alert revealed.

Massive XRP Transactions After Ripple CEO’s Statement

The aforementioned cryptocurrency tracker discovered four significant transactions, one of which had a staggering 261,094,839 XRP, valued at $102 million.

In accordance with information released by community explorer Bithomp, this enormous lump was transferred between two anonymous wallets without any indication of addresses associated with any crypto exchange.

The rest of the transfers carried 34,700,000 XRP by Bitso crypto exchange.

It is a unicorn based in Mexico and one of Ripple’s major On-Demand Liquidity [ODL] partners, moved 34,700,000 XRP internally as it has often been doing recently, as it is actively spreading the usage of OLD in Latin America.

The other two lumps of the tokens were shoveled by whales from Bittrex exchange to Bitstamp and Bitso.

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