{"id":27503,"date":"2020-08-20T12:42:48","date_gmt":"2020-08-20T09:42:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27503"},"modified":"2025-08-26T21:11:21","modified_gmt":"2025-08-26T18:11:21","slug":"study-organizers-of-fake-youtube-giveaways-moved-477000-in-xrp","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/study-organizers-of-fake-youtube-giveaways-moved-477000-in-xrp\/","title":{"rendered":"Study: organizers of fake YouTube giveaways moved $477,000 in XRP"},"content":{"rendered":"<p>Organisers of streams with fake cryptocurrency giveaways stole 1.543 million XRP (~$477,000) from duped users. This is according to data from research firm Xrplorer.<!--more--><\/p>\n<p>The culprits laundered 839,000 XRP (~$243,000), of which 508,000 XRP (~$147,300) passed through the Binance exchange, and the remaining 273,000 XRP (~$79,100) through NiceChange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Update on the ongoing XRP scams on YouTube.<br \/>\n\u2014 1,543,000 received<br \/>\n\u2014 839,000 laundered<br \/>\n\u2014 Most used VASPs for laundering are <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> (508K) and NiceChange (273K)<br \/>\n\u2014 Victims: More than 60% XRP come from <a href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@coinbase<\/a> users, ~25% from private wallets, and only ~2-3% from <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> users<\/p>\n<p>\u2014 xrplorer.com forensics (@xrpforensics) <a href=\"https:\/\/twitter.com\/xrpforensics\/status\/1295254838528352256?ref_src=twsrc%5Etfw\">August 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>More than 60% of the stolen funds originate from Coinbase wallets, ~25% from private addresses, and only ~2-3% from Binance users.<\/p>\n<p>Xrplorer say that many exchanges are not taking adequate measures to protect their customers from fraudsters. The company&#8217;s CEO Thomas Silkj\u00e6r publicly urged Coinbase to take steps to protect its customers.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Dear <a href=\"https:\/\/twitter.com\/CoinbaseSupport?ref_src=twsrc%5Etfw\">@CoinbaseSupport<\/a>. In the past couple of days, your users have been scammed of more than 230,000 XRP to scams promoted on YouTube.<\/p>\n<p>Isn\u2019t it time you started warning your users when they withdraw to potentially fraudulent accounts? <a href=\"https:\/\/t.co\/B5crdeZRRn\">https:\/\/t.co\/B5crdeZRRn<\/a><\/p>\n<p>\u2014 Thomas Silkj\u00e6r (@Silkjaer) <a href=\"https:\/\/twitter.com\/Silkjaer\/status\/1294945041887244289?ref_src=twsrc%5Etfw\">August 16, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cOver the past few days, your users have lost more than 230,000 XRP due to scams promoted on YouTube. Isn\u2019t it time you started warning your users before sending funds to potentially fraudulent addresses?\u201d, he wrote.<\/p>\n<\/blockquote>\n<p>In April, the fintech startup Ripple and its CEO Brad Garlinghouse filed a lawsuit against YouTube, accusing it of harming the reputation and brand due to fake cryptocurrency giveaways.<\/p>\n<p>In late July, Apple co-founder Steve Wozniak joined a similar class-action suit, a figure whose likeness was also used by the miscreants in the fake videos.<\/p>\n<p>YouTube sought to wash its hands of responsibility for the actions of third parties on the platform.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Organisers of streams with fake cryptocurrency giveaways stole 1.543 million XRP (~$477,000) from duped users. This is according to data from research firm Xrplorer.<\/p>\n","protected":false},"author":1,"featured_media":27504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,167,112,1103],"class_list":["post-27503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-research","tag-ripple","tag-youtube"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27503"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27503\/revisions"}],"predecessor-version":[{"id":27505,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27503\/revisions\/27505"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27504"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}