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XRP holders should exercise maximum caution: the integration of the XRP Ledger into the banking sector, the launch of the RLUSD stablecoin, and Evernorth treasury transfers have had an unexpected side effect. While Ripple cements its institutional recognition, scammers have begun mass-stealing the names of well-known financial institutions, turning real corporate news into a tool for stealing assets.
This week, an XRPL Foundation contributor under the handle '@Vet_X0' warned investors about a new scheme. Scammers generate "beautiful" wallet addresses (vanity addresses) and issue dummy tokens that imitate brands from recent announcements.
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This signals a change in tactics: the focus has shifted from hunting for bugs in code to social engineering. Previous technical incidents, from the summer Rippling-drainer botnet and fake NFTs to the September hack of the Bitget exchange (103 million XRP) and the compromise of XRPH Wallet ($452,000), have given way to pure psychology.
How good news became a problem
The main trigger for the deception was the legitimate news backdrop: Cross River Bank's tests of the RLUSD stablecoin and the deployment of the 473 million XRP Evernorth fund through major exchanges. As soon as a brand announces its entry into the XRPL, the scammers' software creates a similar wallet address within seconds (for example, rBankxxx) and issues a fake token such as $BANKxxx.
Then, through phishing sites, users are prompted to "verify" their wallets or exchange real XRP for new "bank" coins. To an inattentive investor, an entry in a blockchain explorer looks like a guarantee of authenticity.
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This is the paradox: the openness of the blockchain has started working against security. A token's appearance on XRP Scan proves only its technical existence. Anyone can issue a coin with any name on the XRPL.
Institutional players operate at the level of internal gateways. Large banks do not require retail holders to sign transactions or redeem their assets. "Just sit on your hands and do nothing," concludes Vet_X0. The only confirmation that a real bank stands behind a project remains a publication on the corporation's own official press site. Any other offer is a guaranteed loss of capital.