Rumors of the US Treasury’s alleged foray onto the XRP Ledger (XRPL) have been circulating, sparking buzz across the digital asset community. On January 21, several community accounts on X claimed that an address linked to “home.treasury.gov” had surfaced on the ledger, creating trustlines with well-known financial institutions such as Bank of America, BlackRock, and JPMorgan.

XRP Scam Alert

However, a deeper look under the hood has uncovered a series of red flags indicating that the wallet in question is neither authentic nor affiliated with the US Treasury. Community member Echo X (@echodatruth), took to X to debunk the rumor through a detailed video breakdown.

In the video, he explained that there are many red flags with the wallet. “If you go XRP Scan and you put in the wallet address, you will notice that they have not only just all of these different tokens from Bank of America, BlackRock, and JP Morgan, which again, that’s already a red flag, but you can notice they have 16,000 XRP that has been deposited into this wallet by people just sending it over to the Treasury. Or what they think is the [Treasury].”

According to Echo X, any user can easily verify these discrepancies by exploring the wallet on XRPL scanners such as XRPScan or Bithomp. He and other developers from BuildX and the ERS team identified an unusual pattern of newly issued “Bank of America,” “BlackRock,” and “JPMorgan” tokens, all minted by the same address—strong indicators that the tokens are not legitimate.

Public data from Bithomp shows that the suspect wallet was activated on January 21 at 3:17 UTC, after which it promptly set its domain to the official US Treasury address, home.treasury.gov—a move observers believe was intended to appear legitimate.

Notably, the wallet received 1 trillion units of each of the so-called “Bank of America,” “BlackRock,” and “JPMorgan” tokens, placed multiple sell orders for tens of millions of t

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Author: Jake Simmons