Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

1,543,000 XRP Stolen by Scam Artists on YouTube, 60% of Victims Use Coinbase: Report

by Daily Hodl Staff
August 18, 2020
in Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
ADVERTISEMENT

Scammers have stolen 1.543 million XRP through fraudulent videos on YouTube, according to the ledger tracking firm Xrplorer.

The company says 60% of the stolen XRP came from users on Coinbase, with 25% coming from private wallets. Binance, however, has been the most-used virtual asset service provider for laundering the stolen assets, responsible for washing 508,000 of the 839,000 XRP that has already been laundered, according to Xrplorer. Crypto exchange NiceChange is second with 273,000 XRP laundered.

The fake videos typically impersonate known tech figures or companies, claiming that users can send a small amount of cryptocurrency to an address to receive more in return.

Xrplorer CEO Thomas Silkjær says Coinbase and other exchanges have an opportunity to be proactive and warn users when they try to move assets to potential scam accounts. The firm is attempting to flag the accounts before the XRP is swapped away from the reach of law enforcement.

They don't convert it to USD/FIAT, but to other cryptocurrencies. The more it is swapped through exchanges and swap services, the harder it is for law enforcement to keep tracing it. That's why we work hard to:

— xrplorer.com forensics (@xrpforensics) August 16, 2020

3) Monitor ALL activity of flagged accounts and all the XRP being sent to and from them, to manually reach out to exchanges, etc.

We are baffled how little most exchanges are willing to do to protect users and help clean up this space. All illicit use is bad for everyone!

— xrplorer.com forensics (@xrpforensics) August 16, 2020

Ripple filed a lawsuit against YouTube in April, alleging the site’s “deliberate inaction” is making it easy for scammers to steal cryptocurrency.

The lawsuit demands compensation for damages to the Ripple brand and reputation due to YouTube’s failure to stop fraudsters who are impersonating the global payments company and its CEO, Brad Garlinghouse.

Later that month, YouTube introduced a new fact-checking system to help viewers in the US determine whether certain videos contain misleading information.

ADVERTISEMENT


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/IM_VISUALS

Submit a Press Release

Crypto Livewire – Press Releases

  • Bitsgap Launches Intuitive Combo AI Bot for Futures Trading
    April 21, 2021
  • eToro Adds Chainlink and Uniswap Amid Investor Surge for Crypto
    April 19, 2021
  • TeraBlock Secures $2.4 Million to Build a Newbie-Friendly Crypto Exchange Powered by Machine Learning
    April 19, 2021
  • BlockSwap Network Announces Balancer LBP and Uniswap LP Incentive
    April 19, 2021
  • Raze Network Completes Triple IDO and Balancer LBP Event
    April 19, 2021
  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$54,968.00
$54,968.00
3.5%
Ethereum
$2,407.69
$2,407.69
4.08%
Binance Coin
$561.98
$561.98
1.83%
XRP
$1.35
$1.35
6.05%
Polkadot
$35.61
$35.61
1.33%
Cardano
$1.24
$1.24
2.13%

Spotlight

  • Raoul Pal Says One Threat May Derail the Bitcoin Revolution – And It’s Not Regulation
    April 15, 2021
  • Here Are 4 Crypto Assets To Buy Amid the Violent Dip, Says Trader Credible Crypto
    April 19, 2021
  • Cardano Creator Charles Hoskinson Says Dogecoin Bubble Will Collapse, Bring Massive Losses to Retail Traders
    April 17, 2021
  • Airdrops Could Send These Under-the-Radar Altcoins to the Moon, Says Top Analyst Tyler Swope
    April 20, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×