In an obvious social media rip-off, people based mostly within the Philippines tried to recommend that the US Treasury created an XRP pockets.
Though this incident instantly had substantial purple flags, it was nonetheless circulated by in style X (previously) accounts. This can be a worrying signal concerning the state of the neighborhood in 2025, and there’s no simple answer.
Did the US Treasury Purchase XRP?
Since President Trump took workplace, social media scams have been taking off within the crypto house. After the launch of the TRUMP meme coin, figures in his orbit have launched their very own rug pulls or egregiously sketchy token tasks.
One other rip-off is now taking off, the place somebody claimed that the US Treasury opened an XRP pockets.
“[The] newest instance of the rampant misinformation drawback within the XRP neighborhood. This time we’ve pretend KYC’d accounts from the Philippines pretending to be the US Treasury and issuing pretend tokens on the XRPL. I’m being real once I ask, how do individuals really fall for these things?” requested Zach Rynes, Chainlink Neighborhood Liason.
The US Treasury XRP Pockets rip-off took off shortly after it was first posted, with a number of main accounts boosting it. This pretend pockets allegedly interacted with main establishments like Financial institution of America and JPMorgan, however on-chain evaluation reveals that it’s based mostly within the Philippines.
A non-US account clearly activated the phony Treasury pockets.
In equity, a number of elements within the broader crypto ecosystem labored to make this hoax appear extra believable. For one, Trump has endorsed a US Bitcoin Reserve, and a number of other states are attempting to launch their very own reserves.
The value of XRP has been hovering, and a few neighborhood members consider that the Treasury underneath Trump may need in on the income.
Nonetheless, hoaxes like this work particularly properly on a susceptible sector of the neighborhood: newcomers. Practically half of TRUMP holders have by no means invested in crypto earlier than, and it is a clear signal of the brand new curiosity in crypto.
If uninformed individuals hear verified credible accounts claiming that the US Treasury is boosting XRP, they won’t have the background to dispute it.
Rynes went on to state {that a} skilled eye may instantly see the purple flags on this incident, nevertheless it’s “exhausting to know what the answer is” to main social media hoaxes like this.
Finally, the crypto neighborhood might want to do some actual soul-searching, or scams may critically sully the trade’s long-term repute.
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