tl;dr
In a social media scam, individuals in the Philippines falsely claimed that the US Treasury created an XRP wallet. Despite clear red flags, the scam was circulated by popular X (formerly) accounts, raising concerns about the state of the community in 2025. The scam gained traction with major account...
Social Media Scam Raises Concerns in the Crypto Community Social Media Scam Involving US Treasury and XRP Wallet in the Philippines Raises Concerns about Misinformation in the Crypto Community
In a social media scam, individuals in the Philippines falsely claimed that the US Treasury created an XRP wallet. Despite clear red flags, the scam was circulated by popular X (formerly) accounts, raising concerns about the state of the community in 2025. The scam gained traction with major accounts boosting it, but on-chain analysis revealed its origin in the Philippines. The hoax exploited factors in the broader crypto ecosystem to seem plausible, particularly targeting newcomers in the community, posing a threat to the industry's reputation.
In an apparent social media scam, individuals based in the Philippines tried to suggest that the US Treasury created an XRP wallet. Although this incident immediately had substantial red flags, it was still circulated by popular X (formerly) accounts. This is a worrying sign about the state of the community in 2025, and there’s no easy solution.
Scams Linked to President Trump's Affiliates and US Treasury's Alleged Involvement in XRP Wallet Highlight Vulnerabilities of Newcomers in the Crypto Space
Since President Trump took office, social media scams have been taking off in the crypto space. After the launch of the TRUMP meme coin, figures in his orbit have released their own rug pulls or egregiously sketchy token projects. Another scam is now taking off, where someone claimed that the US Treasury opened an XRP wallet.
The US Treasury XRP Wallet scam took off quickly after it was first posted, with several major accounts boosting it. This fake wallet allegedly interacted with major institutions like Bank of America and JPMorgan, but on-chain analysis reveals that it’s based in the Philippines. A non-US account clearly activated the phony Treasury wallet.
Industry Introspection Needed to Address Major Social Media Hoaxes and Protect Long-Term Reputation of the Crypto Sector
In fairness, a few factors in the broader crypto ecosystem worked to make this hoax seem more plausible. For one, Trump has endorsed a US Bitcoin Reserve, and several states are trying to launch their own reserves. The price of XRP has been soaring, and some community members believe that the Treasury under Trump could want in on the profits. However, hoaxes like this work especially well on a vulnerable sector of the community: newcomers. Nearly half of TRUMP holders have never invested in crypto before, and this is a clear sign of the new interest in crypto. If uninformed people hear verified credible accounts claiming that the US Treasury is boosting XRP, they might not have the background to dispute it.
Rynes went on to state that a trained eye could immediately see the red flags in this incident, but it’s “hard to know what the solution is” to major social media hoaxes like this. Ultimately, the crypto community will need to do some real soul-searching, or scams could seriously sully the industry’s long-term reputation.