The long-awaited verdict in the XRP – SEC case finally came yesterday and Ripple is the winner in the SEC case.
The court's decision in favor of XRP triggered the rise in Bitcoin (BTC) and altcoins, including XRP, while XRP became the fourth largest cryptocurrency by market cap, surpassing BNB.
While XRP investors were delighted with the positive decision and rise, a warning came from Ripple CTO David Schwartz.
Ripple CTO stated that after the court decision in favor of Ripple, a new wave of fraud against investors started, saying:
“Many scammers are taking advantage of the latest good news for XRP to try to cheat and steal.
There are no airdrops, giveaways or special offers related to this decision.”
A lot of scammers are taking advantage of the recent good news to try to cheat and steal. There are no airdrops, giveaways, or special offers associated with this ruling.
— David "JoelKatz" Schwartz (@JoelKatz) July 13, 2023
Behind this warning of the Ripple CTO is that XRP has been the subject of fraud events in the past and is one of the cryptocurrencies on the radar of fraudsters.
The most important reason why XRP is on the radar of fraudsters is that it is among the cryptocurrencies that investors follow closely.
XRP continues to trade at $ 0.7851 at the time of writing, although it has returned some of its gains after the massive rise.
*Not investment advice.