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George Spencer

October 1, 2021

More on SEC vs. Ripple

A number of fake reports claiming that the court battle between the United States Securities and Exchange Commission (SEC) and San Francisco-based Ripple Labs is giving false hope to XRP holders.

At the time of writing, the article was still published on the Yahoo Newspage with a link to an Accesswire news page where the said announcement first appeared. The report was also distributed on other newswire services including Law.com and iCrowdNewswire.

However, both reports are probably false for a number of reasons. They closely resembled a coordinated one in September which targeted the Litecoin cryptocurrency project.

The Reports Are Fake

The greatest proof that the reports are fake is the fact that there has been no official announcement from Ripple or the U.S. SEC regarding the ongoing lawsuit. Given the duration of the court battle, any settlement would be widely published by both parties.

Despite the press release’s claims that the “SEC has announced it would drop its charges,” there has been no official announcement from the regulator’s website or any of its social handles.

Additionally, the Law.com and iCrowdNewswire versions claim to be from Debevoise & Plimpton LLP, one of the law firms representing Ripple in the lawsuit. The said news was not posted on any of Debevoise’s official social media handles at the time of writing.

The report also includes a bogus email address not associated with Debevoise and Plimpton LLP.

Fake Ripple Case

In the above screenshot, we note the deviation from debevoise.com to debevoise-laws.com, a domain that does not exist.

Update: Newswire services just deleted the reports from their website.

Also Read:  U.S. Judge Partially Grants Ripple's SEC Expert Reports Motion