Ripple’s Top Lawyer Explains How to Fight Crypto Scams

The post Ripple’s Top Attorney Explains How to Combat Crypto Scams appeared on BitcoinEthereumNews.com. Stuart Alderoty, chief legal officer at business blockchain firm Ripple, recently developed a crypto scam survival guide. Ripple’s top attorney has outlined some common cryptocurrency scams that cryptocurrency market participants need to watch out for. These include pig butchering scams, pump-and-dump scams, fake giveaways, phishing, and impersonation. In his op-ed, Alderoty also shared 6 pieces of advice on how cryptocurrency holders can stay safe. He has urged them to never share their private keys or recovery phrases. Those looking to protect their holdings should avoid clicking on suspicious links or random texts. Cryptocurrency holders should conduct their own research before investing and verify various information.

As reported by U.Today, Ripple issued a fresh warning about XRP scams, emphasizing that it does not conduct giveaways. Scammers often impersonate Ripple CEO Brad Garlinghouse and other Ripple executives to promote their fraudulent schemes. Recently, scammers have also started using AI technology, such as voice cloning, to make fake giveaways more convincing. At the same time, Alderoty has noted that crypto is not inherently riskier compared to other online spaces. Less than 1% of American crypto users have fallen victim to scams or hacking incidents. Source: u.today