Cryptocurrency

Coin XRP news: Someone is promoting XRP via a hacked tweet from the CoinDCX exchange

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Coin XRP news: The Twitter account of the cryptocurrency exchange CoinDCX has been hacked. Representatives on the trading floor reported about it from a third-party social networking account. How exactly the attacker gained access to the account remains unclear.

At the time of writing, the exchange account is actively reposting posts related to XRP, a currency. The account is also sending out tweets about fraudulent XRP giveaways. CoinDCX representatives told users to avoid contact with the compromised page and not to click on any links from the account.

Attackers have been actively marketing XRP from the hacked CoinDCX page amid the end of legal battles between the SEC (U.S.) and Ripple. To recap, Ripple attorney James Phelan tweeted on Sunday, September 18, 2022, that Ripple Labs, Brad Garlinghouse and Christian Larsen (current and former CEOs, respectively) had filed an early motion for summary judgment. It can be granted if the moving party proves there is no factual controversy.

Most of the controversy revolved around the regulator’s authority. Ripple argued that the SEC had jurisdiction over transactions related to XRP, a currency — the Ripple Lab’s native coin-that took place on foreign exchanges such as Binance, Bitfinex, Bitforex, Bithumb, Bitlish, BitMart, Bitruem and Huobi.

To recap, the SEC sued Ripple Labs; its former director Christian Larsen, and current CEO Brad Garlinghousefor allegedly raising $1.3 billion through the sale of unregistered securities (i.e., cryptocurrency XRP). The lawsuit was filed in December 2020.

We previously reported that WazirX will follow Binance’s lead and convert Stablecoins to BUSD.

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