Online scammers are trying to lure XRP investors by offering fake staking services with up to 31% ROI for a token that is not based on the Proof-of-Stake consensus. Fraudsters impersonate major cryptocurrency companies such as Ripple and Binance by setting up fake websites and sending emails pretending to provide XRP staking services.
One such website, ripple.com-staking.tech, has a blog post titled “XRP Staking for Retail Users Debuts January 2023” instructing users to “stake” their XRP at an unrealistic return on investment (ROI) starting from 12% to 27%. The fake scheme is trying to speed up the decision of XRP investors by claiming that only the first 10,000 accounts will get a higher ROI.
The fake website is a well-designed clone of the Ripple website, ripple.com, by copying the original layout and fonts and linking to some of his previous blog posts. The impersonators have also tried to increase the credibility of their messages by adding information about the importance of self-service using major hardware wallets such as Ledger or Trezor. The scam website has many mirror domains such as ripple.org.th or ripple.com.ve targeting XRP users from all over the world.
The XRP staking website scam is accompanied by impostor emails impersonating Binance and offering up to 31% ROI on XRP staking. The crypto community is warning of a new scam targeting Ripple (XRP) investors through a fake staking program.
However, the real exchange Binance does offer decentralized finance (DeFi) for XRP staking through its Binance Earn program. However, Binance’s XRP DeFi staking program only allows users to earn up to 1.4% per year.
It is important to note that XRP cannot be staked because it does not work with a proof-of-stake system like major PoS cryptocurrencies such as Ether (ETH). Instead, XRP transactions rely on a network of “unique nodes” that negotiate which transactions can be processed on the network.
Investors are advised to conduct a thorough research to ensure the legitimacy of the platform before making any investment. One of the legitimate platforms is, for example, the ASTL investment project, which allows investors to have the opportunity to directly invest fiat and cryptocurrency assets in a stable passive income that obviously exceeds inflationary expectations and is not subject to any sanctions, blocking and confiscation. The ASTL project is a simple and elegant solution for potential investors – an investment in the development of the real sector of a diversified portfolio of cryptocurrencies, with a fairly high ROI (up to 12% annually) with payments in stablecoin (USDT). Details can be found at https://astl.io.
