As per new research data released a couple of days back, it appears as though there are currently thousands of bots as well as fake accounts that are “pumping the value of Ripple’s native XRP offering”.
The discovery was made by an independent researcher called Geoff Goldberg, who claims that through the use of various graph analysis techniques, he has been able to weed out the prevalence of a “massive largely fake shill army” that is continuously engaged in the manipulation of XRP’s price day-in and day-out.
When questioned on the veracity of his data and findings, Goldberg replied by saying:
“There are various types of graphs I use and analyses I conduct. It’s quite manual and requires lots of time,” .
A quick look at Geoff’s results show us that there truly is a massive overlap between the “followers of some of the most prominent XRP accounts” in existence today.
astroturfing = the deceptive tactic of simulating grassroots support for a product, cause, etc., undertaken by people or organizations with an interest in shaping public opinion #xrparmy #xrpthestandard #xrpcommmunity #xrpthebase #xrp cc: @yoyoel @vijaya @JoelKatz @CoryTV pic.twitter.com/H3s9PfuiwM
— geoff golberg (@geoffgolberg) December 4, 2018
As can be seen from the images presented above, most of the accounts studied/ monitored by Goldberg had an unusual “amount of intersection with the followers of Emi Yoshikawa”. For those of our readers who might not be aware of who Yoshikawa is, she is currently incharge of Ripple’s global expansion strategy.
In addition to all this, it is also worth bearing in mind that as per a host of in-depth studies that have been released over the course of the past 12-14 months, there currently exist more than 8,000 identifiable XRP related bot/fake accounts
While a lot of this information can still be thought of as circumstantial, there is no denying that some of the data put forth by Goldberg through his research exercises is largely indisputable.
Some Examples of Clear Manipulation
As can be seen from the image below, Ripple is making use of a number of fake bot accounts to promote XRP.
However, at the time of writing this article, most of these accounts have mysteriously disappeared — VERY SUSPICIOUS to say the least!!
What’s more shocking is the fact that following a massive purge on Twitter recently, there was a particular XRP-oriented account that lost a whopping two million followers overnight. On the issue, Goldberg was quick to add:
“One would think that Twitter would conduct a thorough audit on the account. The fact that it appears Twitter has not done so doesn’t surprise me one bit. They’re not incentivized to remove inauthentic accounts as those inflate their platform statistics,”
Other Key Factors to Bear in Mind
- As many of our readers may remember, last year Ripple Labs offloaded nearly $400 million worth of XRP. However, till date there has been no accountability provided as to where this money was actually spent by the organization.
- It is also worth recalling that Ripple Labs is currently in possession of a whopping 60 billion XRP even though there are currently only 40 billion trades active on the market.
Over the course of the past year so, the folks over at Ripple have been making use of a lot of marketing schemes to get more and more people to invest in their various digital offerings.
However, whether or not Ripple Labs is behind the aforementioned fake account sage still remains to be determined. With that being said, it is worth asking oneself the question:
“Who else could afford to fund such a large shill army that too at a scale as massive as this?”