u.today
XRP users and, by extension, the broader cryptocurrency community have been reminded to apply caution online. John Deaton, crypto lawyer and XRP enthusiast, issued a warning in an X post about the increasing sophistication of scams by malicious actors.
Scammers exploit fear and urgency
Notably, Deaton’s warning highlights how easy it is to lose one’s hard-earned savings from a slight mistake on the user’s part. He shared a personal story from two years ago to emphasize how mischievous scammers have become and the extent they could go.
According to Deaton, there is an increasing need for vigilance and proper security measures as scammers upgrade their techniques. He explained how scammers hijacked his personal WiFi network and created fake interactions, impersonating Uphold to manipulate him.
⛔️ A CRYPTO WARNING ⛔️
— John E Deaton (@JohnEDeaton1) January 3, 2025
As crypto prices rise and new people enter the space, so do scammers.
Some scamming operations are quite sophisticated, whether related to your private wallet or an exchange account.
If you get an email with a link do not click the link unless you are… https://t.co/1OVTRcWFdS
The crypto lawyer pointed out that such malicious actors usually create a sense of urgency and rely on fear. This panic could easily prompt hasty actions on the user's part, causing them to share sensitive information or click on phishing links.
Deaton highlighted the importance of security practices to safeguard users online. He advised all to use two-factor authentication for all accounts and never share passwords, seed phrases, or private keys. He cautions everyone to be suspicious of all unsolicited emails, particularly those creating panic and calling for immediate action.
Deaton urges vigilance and verification
To secure one’s wallet, Deaton encouraged users always to verify any form of communication claiming to have emanated from official sources. He said being vigilant and skeptical of such could prevent one from becoming a scam victim.
As in his personal story, the scammers had hacked his home WiFi and created a fake "account locked" popup on his screen. The hacker sent an email impersonating Uphold's official customer support and even placed a phone call through.
If Deaton had not been vigilant and skeptical of the interaction, he could have lost his savings. Hence, all users are warned to stay educated and avoid falling victim.
Recently, Brad Garlinghouse, Ripple CEO, also condemned the activities of scammers in a post on X, describing them as lowlifes.