The XRP community has long been a target of scams.
The same scammers are now targetting the Stellar (XLM) community using the same tactics.
Staking is one way the fraudsters are luring XRP and Stellar (XLM) investors into sending them their digital asset investments.
The crypto-verse is a lucrative space for online fraudsters. For a while now, scammers have been targetting the XRP community using numerous tactics such as claims of rewards via staking on the XRP ledger or the distribution of funds from Ripple to the XRP community.
XRP Scammers Have Expanded and Now Targetting the Stellar (XLM) Community
Their attempts at defrauding investors have now expanded and the same scammers are now targetting the Stellar (XLM) community using the same tactics. A few hours ago, Tiffany Hayden, a prominent crypto community member, alerted investors of the new attempts to defraud XLM investors.
In an elaborate tweet, Ms. Hayden explained that the scammers are attempting to fool investors into staking XLM with them. The offer for staking is via email. Within the email, is a link that redirects you to a clone of the Stellar.org website. The elaborate nature of the email sent can lead one to believe in the offer and part with their hard-earned Stellar (XLM) assets.
The tweet alerting the Stellar (XLM) community, can be found below.
❗️SCAM ALERT There is NO Staking on Stellar! This email is being sent to the #Stellar
A Link Between Emails and Newsletters from Ripple and Stellar (XLM)
In her attempt to understand how the fraudsters are accessing the emails of XRP and Stellar (XLM) investors, Ms. Hayden concluded that investors of these digital assets are usually subscribed to newsletters from the projects. Therefore, any fraudulent email that resembles the newsletters, can fool the recipient into believing that the offer, or reward, is real. She explained the following.
There have been a lot of targeted emails aimed at the Stellar and $XRP community. Because we are expecting emails from newsletters we’ve signed up for, our guard is down. Please stay vigilant!
The question now on the minds of XRP and Stellar (XLM) investors, is how the fraudsters are getting a hold of their emails. This concern can be found in the following screenshot of a response to the initial tweet by Ms. Hayden.