David Schwartz, Ripple’s Chief Technology Officer (CTO), recently issued a warning to his followers on X (formerly Twitter) about a phishing scam targeting Coinbase accounts. In a tweet from his handle, @JoelKatz, Schwartz shared an email he received from a source posing as Coinbase support. The fraudulent message urged users to update their account details by following a provided link, suggesting that this would ensure a more seamless user experience.
Schwartz was quick to alert his followers to the deceptive nature of the email, urging them not to interact with it and reiterating that it was nothing more than a phishing attempt. His timely warning was met with appreciation from the community, with many XRP users expressing their gratitude towards Schwartz for alerting them to the potential threat.
The XRP community is no stranger to such scams, and Schwartz’s warning was welcomed by community leaders. An XRP-themed account, @BankXRP, boasting over 217,000 followers, expressed gratitude to Schwartz for his vigilant efforts. The account tweeted, “It’s really great that you do this David along with some of the other large X accounts to help protect the community.” Such interactions serve as a stark reminder of the essential role influential figures like Schwartz play in guiding users through the scam-ridden landscape of crypto and safeguarding their holdings.
Schwartz’s warning adds to the list of recent calls-to-action by community leaders committed to educating their followers on identifying and avoiding scams. As crypto adoption continues to rise, so does the prevalence of scams, making it crucial for platforms and individuals with considerable followings to ensure their users’ safety.
In addition to the scam warning, Schwartz has also shed light on the potential pitfalls of crypto airdrops. While these free distributions of tokens to users may appear harmless, they can lead to financial complications. Schwartz noted that airdrops are taxable in the U.S. and other countries that classify tokens as income, meaning that crypto holders could potentially face tax liabilities upon receiving an airdrop. His insights serve as a valuable reminder to crypto users of the tax considerations that accompany the ownership and use of cryptocurrencies.
On the trading front, XRP has witnessed slight volatility in recent days. On Friday, the cryptocurrency experienced a 3.9% increase, rising from 2.27 to 2.36. Despite minor price fluctuations over the last 24 hours, XRP maintains its position as one of the largest cryptocurrencies by market capitalization, currently valued at $2.34050.
