David Schwartz, the former Chief Technology Officer of Ripple, is alerting XRP Ledger users to an increase in fraudulent airdrops and giveaway schemes.
Summary
- David Schwartz warned XRP users that fake airdrops and giveaways have sharply increased online.
- Ripple has repeated that it never asks users to send XRP or share wallet details.
- Recent crypto.news reports show fake Telegram accounts, deepfakes and DPRK threats remain active.
The warning was issued because fraudsters are still actively targeting cryptocurrency users on platforms like social media, Telegram, Instagram, and through deceptive websites.
According to Schwartz, scams targeting XRP Ledger (XRPL) users have significantly increased recently. He advises that any posts offering free XRP are almost certainly scams, urging users to be skeptical of such offers.
Ripple impersonators use Telegram and Instagram
Ripple previously cautioned users about fraudulent Telegram accounts. They’ve confirmed they don’t have an official Telegram support channel and will never ask for payments, personal information, or wallet details through that platform.
A recent report detailed a fake Instagram account impersonating Ripple CEO Brad Garlinghouse. This account promoted a fraudulent XRP giveaway, following a typical scam where users are asked to send XRP with the expectation of receiving a larger amount in return.
Scammers are getting more sophisticated, using legitimate-looking materials like real photos, copied logos, and altered videos to create convincing fake offers. Common tricks in the crypto world include phony customer support, deepfake videos, and posts advertising fake giveaways.
Ripple continues to advise users that they will never ask anyone to send XRP. They also caution against scams involving fake livestreams and impostor accounts used to steal money.
Ripple security warnings grow as cyber threats widen
This new warning arrives alongside ongoing security concerns in the cryptocurrency world. As crypto.news recently covered, Ripple has begun sharing information about potential threats originating from North Korea with the Crypto ISAC. This data includes details like suspicious web addresses, digital wallets, and other indicators of fraud and current hacking attempts.
According to the report, hackers believed to be connected to North Korea have stolen around $577 million in cryptocurrency so far this year (2026), which represents 76% of all cryptocurrency stolen in hacks up to that point. The report also noted that these attackers are now using more sophisticated methods, like extended social engineering schemes, instead of just relying on basic code exploits.
The warning came as XRP was trading around $1.43, according to crypto.news data. Over the past 24 hours, XRP’s price dropped by 2.15%, with $2.17 billion worth of the cryptocurrency traded. The price fluctuated between $1.41 and $1.47 during that period.
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2026-05-14 13:11