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XRP Community Alert: Xaman App Warns Against Fake Tokens

source-logo  thecryptobasic.com 29 May 2023 10:54, UTC

Xaman warns XRP users and other investors about potential scams involving fake tokens while emphasizing their official stance against token issuance.

In a recent statement released by Xaman, the rebranded entity of XRPL Labs and Xumm Wallet, users have been cautioned about a potential scam involving the sale of fake Xaman tokens.

The official communication emphasized that Xaman, like its predecessors, has no intention of issuing a token. The warning came as reports surfaced of unauthorized individuals attempting to deceive unsuspecting crypto enthusiasts by offering fraudulent Xaman tokens for sale.

Xaman swiftly addressed the issue, urging users to remain vigilant and refrain from engaging these unscrupulous individuals or their tokens.

🚨 Warning! Just like Xumm / XRPL Labs never issued a token, Xaman also will NOT issue a token.

Anyone trying to sell you a Xaman token is trying to scam you.

Don't engage.

— Xaman App (@XamanApp) May 28, 2023

Xaman’s official stance is clear: it has not issued and does not plan to issue any token associated with its brand. The company strongly advises against participating in any transactions related to the alleged Xaman tokens.

Scams and fraudulent schemes have unfortunately become prevalent within the crypto industry, targeting both newcomers and seasoned investors.

Xaman’s warning serves as a reminder for individuals to exercise caution, verify the authenticity of token offerings, and refrain from sharing personal information or engaging in financial transactions without conducting thorough research.

XRPL Labs and Xumm Merger

Notably, this warning comes after the recent announcement from XRPL Labs and Xumm Wallet, a leading self-custody solution on XRPL. XRPL Labs is the team behind Xumm. Both entities merged to form the rebranded Xaman App, as reported by The Crypto Basic last week.

The objective of the rebrand is to merge XRPL Labs and Xumm into a single entity, eliminate any confusion, differentiate themselves in the industry, and prepare for future retail expansion.

As a show of solidarity, the team will proudly wear Xaman-branded shirts during the transition period. The rebranding will be a gradual process without disrupting the functionality and operations of their current products.

Xaman remains dedicated to innovation, security, and delivering exceptional user experiences in the realms of crypto and retail.