Zach Rynes, the Chainlink community liaison officer, issued a warning on the X platform stating: "This is the latest example of false information spreading in the XRP community. This time, we found fake KYC accounts from the Philippines impersonating the US Treasury and issuing fake tokens on XRPL."

The fraudulent XRP wallet related to the US Treasury scam post quickly spread, and many popular X accounts reposted it. The fake wallet is said to have interacted with major institutions such as Bank of America and JPMorgan, but on-chain analysis shows that it is located in the Philippines, indicating that a non-US account has activated this fake Treasury wallet. Rynes said that trained individuals can immediately see the danger signals in this event, but "it is difficult to know how to deal with social media scams like this."