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The Coin Rise 2025-01-11 21:22:56

Ripple CTO Warns XRP Community of New Scam Impersonating Coinbase

Ripple Labs ’ Chief Technology Officer David Schwartz has again stepped up to protect the XRP community. Known for his active presence on social media, Schwartz recently warned about a new scam targeting crypto users. The Coinbase Impersonation Scam In a recent X post, Schwartz alerted the XRP Army about an alarming phishing tactic. Scammers posing as representatives of Coinbase, the largest U.S. crypto exchange, are attempting to exploit users through fraudulent emails. The emails claim that recipients must review their account details to ensure seamless operations on the platform. Accompanying this, Schwartz shared an image of one such email, highlighting its deceptive design. Adding to the urgency, some community members confirmed receiving similar emails. One investor recounted receiving the email and a follow-up call from a Canadian phone number impersonating Coinbase support. Thankfully, the user remained vigilant and avoided falling victim to the scam. XRP Community Responds with Gratitude Schwartz has long been a guiding figure for the XRP community during his 12 years at Ripple, frequently sharing valuable advice. In a similar incident in 2024, the Ripple CTO revealed that scammers had tried to contact him by text and email. As mentioned above, the bad actors posed as the ‘Asset Shielding Department’ in the exchange. The phishing attempt aimed to deceive Schwartz into sharing his personal information, presumably to gain unauthorized access to his assets or sensitive data. Schwartz’s swift action earned him accolades from the XRP community. Many expressed gratitude for his vigilance, with one user dubbing him a “true community caretaker.” Others echoed the sentiment, appreciating his consistent efforts to safeguard the ecosystem. A Growing Threat of Crypto Scams The rise of digital assets has brought innovation and opportunity, but it has also increased illicit activities like phishing scams. These scams often target unsuspecting users, tricking them into revealing sensitive information or transferring funds. Many users have fallen victim to such schemes, losing access to their accounts and hard-earned assets. Industry leaders and regulatory agencies are taking proactive measures to combat the rise in scams . As seen in Schwartz’s recent tweet, companies like Ripple are educating users about security threats and sharing timely warnings. Exchanges also enhance their security protocols, implement two-factor authentication, and monitor suspicious activity. Regulatory agencies have introduced stricter guidelines to protect users. Governments worldwide are cracking down on fraudulent activities, requiring exchanges to verify user identities and report suspicious transactions. Some agencies have also launched public awareness campaigns to help users recognize and avoid scams. The post Ripple CTO Warns XRP Community of New Scam Impersonating Coinbase appeared first on TheCoinrise.com .

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