The XRP Ledger community has recently received a crucial alert. This warning comes as scammers have created a fake xSPECTAR token, replicating the currency hex code to mimic the legitimate one. The legitimate issuer’s address is marked on XRPL explorer “xrpscan,” reflecting the deception.

An XRPL community member with the X handle Daniel “No” Keller has called the attention of the crypto community to this development. In a tweet, he wrote: “Heads up xSPECTAR holders. Some scammers issued another xSPECTAR token with the same currency hex as the real one. The real issuer is rh5jzTCdMRCVjQ7LT6zucjezC47KATkuvv, and the account is labeled on xrpscan.”

Keller also calls attention to a fake AMM pool: “There is also a fake AMM pool. Please beware.”

xSPECTAR utilizes XRP Ledger for its token and marketplace, operating its nodes and oracles on the XRPL and Flare Networks. The warning is crucial as the XRP Ledger distributed exchange is one of the major platforms where the xSPECTAR Token can be accessed, aside from centralized exchanges.

xSpectar issues crucial warning

xSpectar highlights awareness of the situation and echoes a similar warning, which was shared via its X handle. it also dissociated itself from the replica token: “We’ve been made aware of a new token named xSPECTAR circulating recently. Please note that this token is not associated with us.We advise everyone to exercise caution and verify any related information thoroughly.Stay safe.”

The recent alert and the subsequent warning from xSPECTAR highlight the ongoing need for vigilance in the cryptocurrency space. As scammers become increasingly sophisticated, users must stay informed, verify information and exercise caution.

In the case of XRP Ledger, they should always check the issuer address against official sources like “xrpscan” to ensure the token’s authenticity.