Ripple CTO David Schwartz cautioned that a website claiming to belong to Ripple with the top-level domain (TLD) “.org .ph” is a scam website. In addition, the Ripple executive shared a screenshot of an email he identified as fraudulent, which is likely linked to the scam website, as is typical with phishing scams.

The email, at first glance, to any unsuspecting recipient appears to be from leading crypto exchange Binance promoting an XRP staking program on behalf of Ripple. Notably, the fraudulent mail promises 16 to 31% returns for locking up XRP for a fixed period.

“The XRP Staking Platform – a time-based staking algorithm with incentive premium and high ROI, from 16% to 31%, with a secured fund of over 5 Billion XRP,” the scammers write, explaining the scam program. “This improved staking offensive is entirely user-focused, with autonomous controls and balancing procedures for individual bonus distribution amongst users and without XRP address collision.”