A warning has been issued regarding the upcoming stablecoin from Ripple, as scammers are already targeting it before its official release. Ripple recently announced the launch of their stablecoin, RLUSD, and scammers have wasted no time in trying to deceive unsuspecting individuals by creating a fake token on the XRP Ledger.
In a cautionary post on the platform, users were urged to be vigilant against potential fraud. “The official Ripple stablecoin $RLUSD has not been issued yet! Always wait for official information from @Ripple and @RippleXDev! Scammers are ready to take advantage of those who are not alert,” the warning stated.
Scammers are actively promoting fake tokens, attempting to sell worthless assets on DEX or through AMM. Validator VET shared a screenshot showing a scammer promoting a fake RLUSD token.
Despite facing criticism from the SEC, Ripple CEO Brad Garlinghouse remains confident in the future of RLUSD. In a recent interview on CNBC, Garlinghouse highlighted the potential growth of the stablecoin market, projecting an increase from the current $150 billion to between $2 trillion and $3 trillion in the coming years. RLUSD, which will be pegged 1:1 to the US dollar, aims to facilitate transactions between stablecoins and other digital currencies, positioning Ripple strategically in this market.
Disclaimer: The opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.
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