XRP Holders Put On Alert As David Schwartz Flags Dangerous New Scam
TL;DR
XRP holders are warned about a surge in scams, including fake airdrops and giveaways, leading to significant losses. David Schwartz, Ripple's former CTO, highlighted the risks and urged caution against fraudulent offers.
Key points
- User lost 6,000 XRP to a scam promising doubled funds
- David Schwartz warns of increased fake airdrop scams
- Scammers impersonate Schwartz on social media
- Bithomp flagged unsolicited NFTs sent to user wallets
- Public alert issued to protect XRP holders
Mentioned in this story
David SchwartzRipple
A user lost 6,000 XRP after falling for a scheme that promised to double their funds. That case is one of several being reported as scammers step up their efforts against XRP Ledger users, prompting a public warning from Ripple’s former chief technology officer.
Fake Offers Hiding In Plain Sight
David Schwartz, known online as JoelKatz, posted the alert on X after what he described as a sharp rise in fake airdrop and giveaway activity. He warned that nearly all such offers seen across social platforms are fraudulent, and that anyone claiming to be him on Instagram, Telegram, or similar apps is almost certainly running a scam.
The warning came alongside reports from others in the XRP space. XRPL blockchain explorer Bithomp flagged a specific trick where scammers send unsolicited NFTs to user wallets.
SCAM ALERT: There has been a huge escalation lately in airdrop and giveaway scams targetting XRPL users lately. Any such posts you see are likely scams.
Anyone claiming to be me on Instagram, Telegram, or almost anywhere else is likely a scammer.
Stay safe XRP fam.
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 14, 2026
The NFTs carry misleading messages — one example read “Verification: Safe XRPL verify message” — and are paired with hidden Buy Offers. When a user signs or accepts the offer, their XRP or other assets can be drained immediately. Wietse Wind from the Xaman wallet team has also urged users to cancel any unknown offers without delay.
What Scammers Are Actually Doing
The methods are not complex but they are effective. Scammers build fake social media profiles impersonating Schwartz, Ripple CEO Brad Garlinghouse, and projects tied to the XRPL. One fake Schwartz profile on Instagram was flagged by a community member last month and reported to the platform.
Q&A
What happened to the user who lost 6,000 XRP?
The user fell for a scam that promised to double their funds, resulting in a loss of 6,000 XRP.
What types of scams are targeting XRP holders?
Scammers are primarily using fake airdrop and giveaway schemes to target XRP Ledger users.
Who is David Schwartz and what did he warn about?
David Schwartz, Ripple's former CTO, warned XRP holders about the rise in scams and fraudulent offers claiming to be him on social media.
How can XRP users protect themselves from scams?
XRP users should be cautious of unsolicited offers, especially those promising rewards, and verify the authenticity of any claims made on social media.
