XRP Community Gets Crucial Warning, What It Pertains To

The XRP community has just received a critical warning from Wietse Wind, a prominent XRPL developer. The warning is about a fake token called "Xaman."

To put things in context, Xaman is a noncustodial client (wallet) for XRP Ledger, which allows users to interact with the ledger and third party tools.

Wind emphasized in his tweet that no official Xaman token exists, and neither will there be any: "There is no Xaman token, There will not be a Xaman token. We will not get involved in meme shit coin issuing."

Wietse Wind, the founder of Xaman Wallet, formerly known as Xumm, clarified that he and his team have no connection to the so-called Xaman token, which is now trading on First Ledger. "We did not issue this," Wind said.

Stressing the severity of the matter, he refers to the "Xaman" token as "a fake meme scam coin" and cautioned users not to engage with it in any way.

XRP community urged to be vigilant

Scam tokens and fraudulent projects continue to pose a risk to the crypto community. As the XRP ecosystem grows, Wind’s warning highlights the need for vigilance. Community members are advised to verify information through official channels to protect themselves from potential scams.

This is essential, as newly issued tokens continue to emerge on the XRP Ledger. This month, First Ledger, a new platform that allows users to trade and track tokens on XRPL, broke XRP Ledger's ATH for newly issued tokens per day, dwarfing the 2021 peak by magnitudes.

In light of this, XRPL dUNL validator and cofounder of xrpcafe Vet issued a warning to the XRP community, urging them to be vigilant: "A ton of impersonators out there.I'll never release a meme coin.I'll never DM you. Stay vigilant."

Impersonation is not new in the space; Xaman (formerly Xumm) Wallet's official X handle warns about scams pretending to be Xumm Support or NFT minting support, with the intent to derive personal information from victims that can then be utilized maliciously.