A new ERC-20 token called XRP Classic (XRPC) has mysteriously appeared and is currently trading on several crypto exchanges.
The new token is also listed on cryptocurrency data aggregation site CoinMarketCap. It has a total supply of 645 billion tokens. Surprisingly, the new coin uses the exact logo as XRP, the native cryptocurrency of the San Francisco-based blockchain startup Ripple. However, the XRPC logo has an orange color.
The coin was announced on Christmas Eve, but the XRP community was not impressed at all. They quickly labeled it a scam.
“What scam is XRPC and why is CoinMarketCap listing it!!! Retweet widely. This is a prime example of why we need regulation to save people from this, ” one XRP supporter tweeted.
Their official website describes XRPC as a digital currency that focuses on the freelance industry. The whitepaper reads in part:
“A modern age freelance marketplace created with the aim to resolve all such issues faced by traditional freelance industry and enable seamless, risk-free connectivity between freelancers and buyers at minimal costs. It serves as a state-of-the-art peer-to-peer marketplace for offering and hiring services without involving a middleman and allow them to create potential long-term collaborations with freelancers getting a fair share for their efforts while buyer is getting quality work at optimal rates.”
The whitepaper also shows how the token is created to “meet the requirements of the emerging Internet of Things. It separates two core functions of value creation and value transfer on the blockchain.”
The website has a Bangladeshi phone number and doesn’t reveal the names of the founders.
At the time of writing, XRPC is trading at $0.000001 with a trading volume of just $526, according to data from CoinMarketCap.