Zach Rynes, a community liaison for Chainlink, has issued a public alert about a growing scam targeting the XRP community. The scam revolves around fake KYC accounts from the Philippines that falsely claim to represent the U.S. Treasury. These accounts have been used to issue counterfeit tokens on the XRP Ledger (XRPL), misleading unsuspecting investors.

One particular fraudulent post gained significant traction on social media, with claims that a U.S. Treasury-associated XRP wallet had interacted with major institutions such as Bank of America and JPMorgan. This post, shared by several prominent accounts on the X platform, appeared credible to many. However, on-chain analysis exposed the truth: the wallet in question was activated by an account based in the Philippines, far from any official U.S. Treasury involvement.

Rynes emphasized that while trained individuals can recognize the red flags in scams like this, the spread of misinformation and social media fraud continues to be a major challenge. He urged the XRP community and crypto enthusiasts to exercise caution and verify any claims they come across before taking action.

This warning highlights the importance of vigilance in the cryptocurrency space, where scams can quickly gain momentum and deceive even experienced users.

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