An alert was released regarding Ripple’s stablecoin attracting scammers even before its official launch. Recently, Ripple announced its next launch: the company’s stablecoin, known as RLUSD. Following the disclosure, scammers are already targeting the launch to carry out malicious activities as a fake token has emerged on the XRP Ledger.

In a post on Platform be alert to possible fraud.

“The official Ripple stablecoin $RLUSD has not yet been issued and is available! Always wait for official information from @Ripple @RippleXDev respectively! Scammers are taking advantage of you if you don’t stay vigilant,” he warned.

Scammers are promoting fake tokens issued by them in an attempt to sell worthless assets on the DEX or through AMM. Validator VET shared a screenshot of an alleged scammer promoting a fake RLUSD token.

Ripple CEO Shows Confidence in RLUSD Stablecoin Proposal

Ripple CEO Brad Garlinghouse remains optimistic about the future of the company’s proposed stablecoin, known as RLUSD, even as it faces severe criticism from the United States Securities and Exchange Commission (SEC).

During a recent interview with CNBC, Garlinghouse highlighted the significant growth potential of the stablecoin market, projecting that it could jump from the current $150 billion to $200 billion to somewhere between $2 trillion and $3 trillion in the coming years. .

This new cryptoactive, which will be anchored 1:1 to the US dollar, aims to become a facilitator in transactions between stablecoins and other digital currencies. “It is one of the rapidly growing fund markets,” commented Garlinghouse about the stablecoins ecosystem, indicating a strategic vision for Ripple’s insertion in this segment.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply