100 Million XRP Scam on Twitter Hits PwC Venezuela and the Crypto Community

XRP Ledger Spark Token

The cryptocurrency community has been once again the target of a scam that involved XRP and PriceWaterhouseCoopers (PwC) in Venezuela. PwC’s Twitter account (its Venezuela branch) was hacked and it promoted an XRP scam. It seemed that Twitter hacks and attacks to promote scams were over in recent months. However, this most recent situation shows that the crypto community has to be aware. 

10 Million XRP Scam Hits PwC on Twitter

PwC’s Twitter account in Venezuela was hacked by a hacker (or a group of hackers) that promoted a 100 million XRP giveaway for the crypto community. It is worth pointing out that PwC’s Twitter account is fully verified and followed by almost 40,000 people. 

Everything started with a Tweet and a link to an XRP giveaway. The account wrote “#xrp go go go………..” and shared the link to the event. The link to the event included an image of the XRP event featuring Brad Garlinhouse, the CEO of Ripple Labs. 

The title of the website promoted by the hacker was “A global network built for the people.” Furthermore, it presented Ripple as a global network that is designed to make everything you connect to the internet securely. Moreover, the scam promoted a giveaway of 100 million XRP that required users to send funds to a wallet address and receive more later. 

Therefore, a large number of users followed the link and could have been affected by this scam. In the past, these attacks seemed to be more common than nowadays. Twitter has been working in order to solve this problem that heavily affected the crypto community since 2017. 

This is indeed not the first and also not the last time in which hackers try to steal users’ funds. With this methodology, it is possible that people that are new to the crypto ecosystem would send funds to an account with the promise to receive their coins doubled. People with experience in the crypto industry know that once you send funds to a wallet, you will never receive them back. 

Therefore, newcomers should be aware of these types of attacks and make sure that they don’t become victims of these scammers. In the past, the accounts of popular figures in the crypto (and non-crypto) industry were hacked asking users to send funds to certain wallets and receive money back. 

Other Types of Scam

The crypto industry has been largely affected by many different types of scams. The most popular one involved sending funds to a wallet that promised users to send them double funds. Usually, these scams targeted certain communities (Binance users, Tesla followers, XRP enthusiasts, and so on). 

But there are many different types of scams. In some cases, Initial Coin Offerings (ICOs) promoted a project that was simply a way to steal users’ funds. Investors deposited funds and received a token back, but the project was then on stand-by or never developed anything, as the goal was to only gather funds. 

Another scam took place in March this year when a Twitter account promoted a digital asset and project called Ape Coin. Users lost close to $1 million with this fake Twitter scam. 

Jonathan Gibson

Jonathan Gibson