XRP Forensics is a cryptocurrency tracker and security organization that is focused on XRP. The enterprise concern itself with keeping track of all the major XRP related transactions. These major transactions also include some of the digital wallet addresses that are used by crypto scammers. In a series of Free XRP giveaway scams last year, the threat actors were able to rake in XRP tokens valued in millions.
XRP Forensics’ Report
As per the recent report published by XRP Forensics experts, one of these scammer addresses has been activated recently. The scammers took advantage of the sharp rise in popularity of XRP tokens last year and convinced investors to send them a small amount of XRP tokens in exchange for bigger returns and free giveaways.
A new report published by XRP Forensics reveals that the scammers have been able to store their stolen XRP tokens on different wallet addresses. As per the contents of the reports, these suspicious wallet addresses are present on exchange platforms like Binance, Kraken, and KuCoin. The report further added that the administrators of these platforms marked the addresses with a security flag.
Thus far, these wallet addresses hold more than 3.6 million XRP tokens in total. The crypto tracker service also added that the scammers have been trying to move 2.5 million XRP tokens recently. The scammers have been trying to transfer this amount to smaller wallets addresses scattered across the internet to get away with their stolen loot.
XRP Forensics has been keeping tabs on every movement of the addresses that belong to the crypto scammers. After noticing the recent scammer activities, their experts tried to reach the KuCoin administration via Twitter DMs. However, they had to address the issue on a thread due to the delay in response. KuCoin has replied that they have issued a support ticket to handle the issue with efficiency.
As per XRP Forensics, the scammers were able to dupe 460 victims with the help of free giveaway scams. They used the names of famous personalities and cryptocurrency investors to lure the victims into giving up their XRP tokens voluntarily. However, when the people chose to comply with the scam without performing any verification, they ended up losing their XRP holdings and investments.