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A social media scam has emerged as individuals in the Philippines try to suggest that the US Treasury Department has created an XRP wallet.
Although this incident had clear warning signs, it was still widely spread by famous accounts on social network X (formerly). This is a worrying sign about the state of the community in 2025, and there are no easy solutions.
Is the US Treasury buying XRP?
Since President Trump took office, social media scams in the cryptocurrency sector have increased sharply. After the Coin TRUMP Meme was born, people associated with him released questionable Cryptocurrency projects.
Another scam has just emerged, in which someone claims that the US Treasury Department opened an XRP wallet.
“[Ví dụ] Latest on the issue of widespread misinformation in the XRP community. This time, we have fake KYC accounts from the Philippines pretending to be the US Treasury and issuing fake Tokens on XRPL. I honestly ask, how can people believe in such things?” ask Zach Rynes, Chainlink Community Liaison.
The US Treasury Department’s XRP wallet scam went viral after it was first posted, with multiple accounts outstanding promote it. This fake wallet is said to have interacted with major institutions such as Bank of America and JPMorgan, but analysis on-chain shows it is based in the Philippines.
A non-US account apparently activated this fake Treasury wallet.
Frankly, several factors in the broader crypto ecosystem have made this hoax seem more plausible. For example, Trump has advocated a US Bitcoin Reserve, and several states are trying to launch their own reserves.
The price of XRP is skyrocketing, and some community members believe that the Trump Treasury Department may want to get involved to profit.
However, scams like this work especially well on a vulnerable part of the community: newbies. Nearly half of TRUMP owners have never invested in cryptocurrency before, and this is a clear sign of renewed interest in cryptocurrencies.
If uninformed people hear credible verified accounts claiming that the U.S. Treasury Department is promoting XRP, they may not have enough knowledge to push back.
Rynes went on to assert that a trained eye could have immediately picked up on the warning signs in this incident, but “it’s hard to know what the solution is” to such massive social media hoaxes. .
Ultimately, the crypto community will need to really rethink, otherwise scams could seriously damage the long-term reputation of the industry.
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