XRP Holder Falls Prey to Sophisticated Phishing Scam, Loses $400,000

An XRP holder lost nearly $400,000 worth of tokens after falling for a phishing email disguised as a routine hardware wallet update from Ledger.

The victim received an email on Easter night at 10pm, which prompted him to update his device. The email tricked the user into entering their wallet information, allowing attackers to drain the wallet.

Kaltekis noted that phishing attempts have grown increasingly convincing in recent years, making it difficult for even those in cybersecurity to distinguish real communications from fake ones.