Ripple’s Chief Technology Officer, David Schwartz, once again warned the cryptocurrency community about a new scam targeting users of Unstoppable Domains. In his last blog post on X, Schwartz cited an email from another user, Arijit, containing dishonest statements regarding an imaginary ‘$UDOM’ token. Despite its inactivity, fake emails recently circulated claiming the token was live and that users could claim it, sparking unease within the crypto space.
Unstoppable Domains is another popular service provider in this industry, and it has been registering domain names linked to the decentralized web. Though the project has been quite active and has had a noticeable character, its activity in the public area seems to be diminishing in the present day. The announcement of a presumable utility token, “$UDOM,” elicited a positive response from domain holders. However, Arijit was quick to debunk the scam, pointing out that there wasn’t any official announcement by Unstoppable Domains. David Schwartz then elaborated on it, pointing to the phishing nature of the received message.
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Fake Token Scheme Poses Threat to Crypto Users
The scam email falsely promoted the “$UDOM” token and included a malicious link redirecting users to a fraudulent website. While some crypto community initially dismissed the email as a prank, Schwartz clarified that the link was part of an enormous phishing scam designed to steal sensitive information from unsuspecting users.
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Regarding a relatively cautious approach when interacting with unsolicited messages, Ripple’s CTO noted unsolicited token claims in any new project. In notifying the audience about this particular scam, Schwartz aims to avoid more people being conned in the future.
Therefore, this recent message from David Schwartz is essential for crypto users to stay alert and avoid clicking on unknown links. Community members are advised to cross-check messages and information posted online with the official sources before acting on them.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.