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XRP Holders Put On Alert As David Schwartz Flags Dangerous New Scam

By NEWSBTC
May 15, 2026
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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

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.

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 scams are not exploiting flaws in the XRP Ledger itself. They rely entirely on deceiving people.

Always double-check:

Protect Your Wallet Before It’s Too Late

Schwartz made clear that no legitimate organization runs surprise giveaways or asks users to send funds, share private keys, or reveal seed phrases. His verified X account is the only place users should look for communication from him.

For protection, users are advised to avoid unknown links, refuse to connect wallets to unverified websites, and report suspicious accounts. Tools from Bithomp and Xaman can help users review and cancel pending offers before any damage is done. Acting fast after a scam occurs may limit losses, but full recovery is rarely possible.

Featured image from Unsplash, chart from TradingView

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of BitKan. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. BitKan shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. Products mentioned in this article may not be available in your region.

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