XRP Holders Put On Alert As David Schwartz Flags | XRP News
A consumer misplaced 6,000 XRP after falling for a scheme that promised to double their funds. That case is one of a number of being reported as scammers step up their efforts in opposition to XRP Ledger customers, prompting a public warning from Ripple’s former chief technology officer.
Fake Offers Hiding In Plain Sight
David Schwartz, recognized online as JoelKatz, posted the alert on X after what he described as a sharp rise in faux airdrop and giveaway exercise. He warned that just about all such presents seen throughout social platforms are fraudulent, and that anybody claiming to be him on Instagram, Telegram, or related apps is nearly actually operating a rip-off.
The warning got here alongside experiences from others within the XRP space. XRPL blockchain explorer Bithomp flagged a particular trick the place scammers ship unsolicited NFTs to consumer wallets.
SCAM ALERT: There has been a big escalation recently in airdrop and giveaway scams targetting XRPL customers recently. Any such posts you see are probably scams.
Anyone claiming to be me on Instagram, Telegram, or nearly anyplace else is probably going a scammer.
Stay secure XRP fam.
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 14, 2026
The NFTs carry deceptive messages — one instance learn “Verification: Safe XRPL verify message” — and are paired with hidden Buy Offers. When a consumer indicators or accepts the offer, their XRP or different property could be drained instantly. Wietse Wind from the Xaman wallet workforce has additionally urged customers to cancel any unknown presents immediately.
What Scammers Are Actually Doing
The strategies are usually not advanced however they’re efficient. Scammers construct faux social media profiles impersonating Schwartz, Ripple CEO Brad Garlinghouse, and initiatives tied to the XRPL. One faux Schwartz profile on Instagram was flagged by a group member final month and reported to the platform.
Phishing performs a giant function too. Fraudulent web sites immediate customers to attach their wallets or approve transactions below the guise of claiming rewards. Once carried out, the wallet is emptied. Some operations nonetheless use the oldest trick within the e-book — asking customers to ship XRP first with the promise of receiving more back.
The scams are usually not exploiting flaws within the XRP Ledger itself. They rely totally on deceiving people.
Be conscious of new scams on the #XRPL.
Scammers are tricking customers into signing NFT Buy Offers with deceptive memos like:
“Verification: Safe XRPL verify message.”
Those presents can get accepted and drain big quantities of $XRP.Always double-check:
– what transaction sort you might be… pic.twitter.com/nNl6Mj4Ryl
— Bithomp (@bithomp) May 11, 2026
Protect Your Wallet Before It’s Too Late
Schwartz made clear that no authentic group runs shock giveaways or asks customers to ship funds, share personal keys, or reveal seed phrases. His verified X account is the one place customers ought to search for communication from him.
For safety, customers are suggested to keep away from unknown hyperlinks, refuse to attach wallets to unverified web sites, and report suspicious accounts. Tools from Bithomp and Xaman can help customers review and cancel pending presents earlier than any injury is completed. Acting fast after a rip-off happens could restrict losses, however full restoration is never attainable.
Featured image from Unsplash, chart from TradingView
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