New Scam Threat Targets XRP Community, Uphold Issues Crucial Warning

Digital asset platform and Ripple partner Uphold has issued a scam warning to its users, which predominantly consists of XRP holders.

In a tweet, Uphold’s Head of Research Dr. Martin Hiesboeck said the crypto exchange has been made aware of a phishing scam asking users to download a new desktop application.

Hiesboeck noted this is not a legitimate request from Uphold, urging users to be cautious of any such communications. The Uphold head of research warned users that, in the event of receiving any suspicious emails or messages, they should never click on links nor download attachments but report them to Uphold’s official support.

Uphold ranks among the largest holders of XRP, with more than 1.5 billion XRP in reserves to facilitate trading and provide customer custody services.

In particular, the volume of XRP that users hold on the exchange surpasses their Bitcoin holdings by about ten times, an unusual trend when considering other centralized exchanges. Uphold was also an initial exchange partner named at RLUSD’s debut in December 2024.

XRP community urged to stay vigilant

Over the weekend, Ripple noted it had observed a major surge in fake “Live” YouTube videos during and after the Swell event, urging the XRP community to stay vigilant.

In this light, Ripple urges the crypto community to stay vigilant as neither it nor its employees will ever ask them to send XRP.

In a separate warning, RippleX urges the XRP community to beware of scams, including fake Ripple or XRP livestreams, giveaways or deepfake videos. It reiterated to the crypto community that Ripple employees will never ask them to send funds, share wallet info or join investment streams. If in doubt, users are urged to verify information through Ripple and RippleXDev while safeguarding their XRP.