News - US Department of Justice (DOJ) investigates counterfeiter XRP ETF

By Ted Maas

US Department of Justice (DOJ) investigates counterfeiter XRP ETF

Ripple (XRP)
Laws and regulations

What seemed like a bad joke now has serious implications: The case of the XRP ETF scammer is on its way to the U.S. Department of Justice.

A few days ago, BlackRock's alleged registration of an XRP ETF caused a huge jump in the price of XRP. The problem: the application was bogus, it turned out a short time later. The reporting authority in Delaware has now forwarded the case to the local U.S. Department of Justice (DOJ). This is according to a statement by Bloomberg analyst James Seyffart.

The still-unknown scammer is therefore facing criminal charges as a result of his prank. However, there are no exact details yet about the publication of the fake report. BlackRock recently made headlines by registering an Ethereum Spot ETF. ETH then broke through the USD 2,000 barrier.

It is possible that the Ripple ETF counterfeiter wanted to provoke a similar reaction to take advantage of the subsequent price jumps. An action he is likely to regret after the latest developments.

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