tl;dr
Scammers are circulating a fake Ripple USD (RLUSD) token on the XRP Ledger ahead of the anticipated official RLUSD launch. The legitimate launch, expected to compete with Tether and Circle in the stablecoin market, is projected for later in 2024. Community members have warned about the counterfeit t...
Scammers are circulating a fake Ripple USD (RLUSD) token on the XRP Ledger ahead of the anticipated official RLUSD launch. The legitimate launch, expected to compete with Tether and Circle in the stablecoin market, is projected for later in 2024. Community members have warned about the counterfeit tokens and provided steps to validate the authenticity of RLUSD, emphasizing the importance of vigilance. Ripple representatives have confirmed that the RLUSD stablecoin has not been launched yet. Investors are advised to verify the legitimacy of RLUSD tokens and to be cautious of potential scams.
Scammers have begun to exploit the hype around Ripple’s anticipated stablecoin launch, circulating a counterfeit Ripple USD (RLUSD) token on the XRP Ledger (XRPL). The fraudulent activity comes ahead of the expected release of the official RLUSD, set to compete with heavyweight contenders such as Tether and Circle in the stablecoin market. Ripple President Monica Long has suggested that the stablecoin’s launch could occur later in 2024, following its initial announcement in April of this year.
Highlighting the urgency of the situation, Krippenreiter, a renowned member of the XRP community, urged users to take key steps to validate the authenticity of RLUSD tokens on the XRPL. He emphasized the importance of account ancestry, verification against official press releases, compliance with XRPL standards, authorization requirements, and multi-signature security.
Founder of XRPL Labs, Wietse Wind, and Senior Software Engineer at RippleX, Mayukha Vadari, also confirmed that the RLUSD stablecoin has not been launched and warned against engaging with scammers. Further warnings were issued by Vet, the operator of the XRP Ledger dUNL, emphasizing the importance of vigilance and verifying that the product is directly offered by Ripple to avoid scams.
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ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of electric vehicles and batteries.
Industry: Technology
Sector: General
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