An American TV sports channel, GOL TV, had its official Twitter account hacked, resulting in the promotion of an XRP crypto scam.
Cryptocurrency scams have been on the rise in recent years, with fraudsters using various tactics such as phishing, Ponzi schemes, and fake initial coin offerings (ICOs) to steal money from unsuspecting victims. As the popularity and value of digital currencies continue to grow, so does the risk of falling victim to these scams.
Ripple (XRP) Scams On The Rise
Scams involving XRP, a cryptocurrency, have become common on social media. These scams often pretend to be associated with Ripple and offer attractive investment opportunities that lack proper contracts or government oversight.
One common form of XRP scam is impersonating Ripple's CEO, Brad Garlinghouse. Scammers will pretend to be him and offer unrealistic investment opportunities, such as doubling their money, which ultimately turns out to be fake. People who fall for these scams lose their invested capital and have no means of getting it back.
In the latest Ripple Twitter hack scam, the scammer tweeted impersonating Ripple CEO:
“I can't wait to prove the haters when $XRP hits $1000.”
At the time of writing, the hackers keep sharing the official posts of Brad Garlinghouse, the CEO of Ripple Labs, to make their scam appear genuine. Additionally, they are responding to tweets about cryptocurrency with links to their scam.
The hacked Twitter account keeps tweeting new XRP scam messages.
Clicking on the links posted on the hacked account can lead to the loss of assets from the hacker's plan. If not resolved quickly, the damage could be significant as the official Twitter account has a large following of over 70,000 followers.
As things stand, GOL TV, An American TV sports channel owned by GOLTV Inc that focuses on soccer, is yet to recover the account.
Not The First Time That XRP Scammers Trying To Cashing In On Crypto Craze
XRP scams are becoming more prevalent and sophisticated on various platforms worldwide. Scammers use new methods to evade detection from digital asset exchanges, law enforcement, and regulatory authorities.
They create fake accounts, manipulate public perception and fake credentials, and use multi-level marketing schemes and advanced phishing networks to target XRP holders for fraudulent activities.
The Whole Crypto Industry Is On Hackers’ Radar
There have been several high-profile crypto-related Twitter hacks in recent years. Some notable examples include:
- In July 2020, several well-known Twitter accounts, including those of Bill Gates, Elon Musk, and Joe Biden, were hacked in a Bitcoin scam. The hackers used the accounts to tweet messages asking followers to send Bitcoin to a specific address, promising to double any amount sent.
- In January 2021, several prominent cryptocurrency exchanges and figures, including Binance, CoinDesk, and CZ, the CEO of Binance, had their Twitter accounts compromised by hackers. The hackers used these accounts to promote a fake cryptocurrency giveaway.
- In July 2021, several Twitter accounts of several well-known personalities, including Barack Obama, Joe Biden, Bill Gates, and Elon Musk, were hacked. The hackers sent tweets promising to double the amount of Bitcoin sent to a specific address.
These hacks highlight the vulnerability of social media platforms and the importance of being vigilant when interacting with crypto-related accounts on these platforms, especially when they're offering unrealistic returns or giveaways.
To avoid falling victim to crypto scams, it is important to be cautious when clicking on tweets, email links, or responding to unsolicited messages about investments or giveaways.
Always verify the authenticity of a website or Twitter account before providing any personal information or sending funds. Additionally, be wary of unrealistic promises of high returns or pressure to act quickly. Research the company or individual before investing, and consult with financial professionals. It is more likely a scam if it sounds too good to be true.
