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&#8217;s 
former chief technology officer. Related Reading: Bitcoin Faces Major Test As 
37% Recovery Collides With Bear Resistance 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 &#8216;JoelKatz&#8217; Schwartz (@JoelKatz) May 14, 2026 The 
NFTs carry misleading messages — one example read &#8220;Verification: Safe XRPL 
verify message&#8221; — 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. Phishing plays a large role too. 
Fraudulent websites prompt users to connect their wallets or approve 
transactions under the guise of claiming rewards. Once done, the wallet is 
emptied. Some operations still use the oldest trick in the book — asking users 
to send XRP first with the promise of receiving more back. The scams are not 
exploiting flaws in the XRP Ledger itself. They rely entirely on deceiving 
people. Be aware of new scams on the #XRPL. Scammers are tricking users into 
signing NFT Buy Offers with misleading memos like: “Verification: Safe XRPL 
verify message.” Those offers can get accepted and drain huge amounts of $XRP. 
Always double-check: &#8211; what transaction type you are… 
pic.twitter.com/nNl6Mj4Ryl — Bithomp (@bithomp) May 11, 2026 Related Reading: 
XRP Bulls Gain Momentum As ETF Inflows Reach Multi-Month High Protect Your 
Wallet Before It&#8217;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

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

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