Scam XRP Wallet With False Links to US Treasury Revealed
Date: 2025-01-23 Author: Henry Casey Categories: BUSINESS
According to information from XRPL explorer Bithomp, the wallet was activated on January 21 at 03:17 UTC. Immediately after, a link to the home.treasury.gov domain was added to the address, which is the official website of the US Treasury. The wallet was then loaded with tokens named Bank of America, BlackRock, and JPMorgan, in the amount of one trillion each.
The scammers began placing orders to sell millions of these tokens for XRP. The largest transaction involved the sale of 299 million JPMorgan tokens for 33.23 million XRP at a rate of 0.11 XRP per coin. However, it turned out that all the tokens, as well as the crypto wallet itself, were fake, the purpose of which was to steal investors' assets.
The wallet passed the Know Your Customer (KYC) verification procedure, which should have increased confidence in its authenticity. However, a Chainlink representative noted that a check via XRPSCAN showed that the wallet was registered in the Philippines, and the KYC verification was fictitious. The problem was exacerbated by the fact that some popular crypto influencers spread fraudulent tweets about this wallet without checking the veracity of the information.
A similar incident occurred earlier with Animoca Brands, a venture capital firm from Hong Kong. Hackers broke into the account of its CEO Yat Siu on the social network X and used it to promote a fake MOCA token issued on the Solana blockchain through the Pump.fun platform.
