Ripple CTO Warns of Surge in XRP Scams

The crypto industry has grown a lot in the last ten years, but that growth has also brought more scammers. Bad actors keep finding new ways to trick people, and Ripple’s ecosystem is a frequent target. David Schwartz, who is Ripple’s CTO Emeritus, recently warned the community about a serious rise in scams.

Warning from “JoelKatz”

Schwartz, known online as “JoelKatz,” posted the alert to his more than 700,000 followers on X. He said there has been a “huge escalation lately in airdrop and giveaway scams targeting XRPL users.” In a typical airdrop scam, victims are asked to connect their wallets to a fake website or service. The scammers promise them new, free tokens. While there are real airdrops in crypto, they always go through official channels. Ripple has never done an airdrop like that. So Schwartz pointed out that any posts claiming to offer a Ripple airdrop are probably fake.

Giveaway scams are similar. The scammers ask users to send a certain amount of XRP to a wallet they control. They promise to send back double the amount. They often say the giveaway is part of a celebration or promotion. It does sound tempting, and that might be why some people still fall for it. But there is no free lunch. If you send tokens, you get nothing back. Schwartz also said that if anyone claims to be him on Instagram, Telegram, or other platforms, they are “likely a scammer.”

Not the First Time

This isn’t the first time the XRP community has faced such threats. Last July, scammers were using YouTube to impersonate Ripple’s official account and its executives. They promoted fake giveaways and airdrops there. Months later, Ripple’s official X account warned about scammers running fake Ripple or XRP livestreams. They even used deepfake videos to make the scams look more believable.

Ripple’s CEO, Brad Garlinghouse, also warned before the holiday season last year that scammers might ramp up their efforts. He praised a website that shows users how to stay safe. The message is simple: if something sounds too good to be true, it probably is. Always double-check official sources before connecting your wallet or sending tokens.

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