Hedera (HBAR), a major participant in the business crypto solutions market and a competitor to XRP, has taken proactive steps to warn its users about the growing possibility of fraud assaults. In a recent social media post, Hedera reiterated its stance on airdrops, emphatically emphasising that company does not engage in such actions.
The warning warned followers to exercise great caution and avoid any messages or links claiming otherwise, as these might be possible traps placed by fraudulent actors.
The frequency of fraudulent airdrop programmes has emerged as a major threat in the cryptocurrency environment. Previously, XRP saw its fair share of similar frauds, in which false marketing promised huge token giveaways only to leave victims empty-handed.
https://x.com/hedera/status/1761128880306364716?s=20
Signal of success
The frequent mention of Hedera and its native token, HBAR, in such malicious circumstances may imply a rising interest in the project among investors, attracting the attention of opportunistic fraudsters looking to capitalise on this growing popularity.
For example, when XRP was granted non-security status by the SEC in the Ripple case in July, and its price skyrocketed by 100%, the whole crypto ecosystem was inundated with fraudulent adverts for this popular cryptocurrency.
Recent occurrences have highlighted Hedera’s growing significance in the cryptocurrency space. Notably, the HBAR token had an astounding 76% increase in value over the previous three weeks, coinciding with significant announcements.
These include the approval of a significant allotment of HBAR tokens, totaling over $400 million, to support the platform’s ecosystem. In addition, Hedera signed a significant five-year agreement for a quarter of a billion dollars with Saudi Arabia’s Ministry of Investment, raising the company’s prominence on the world arena.
