Ripple Cofounder, XRPL Foundation Warn on Scams

David Schwartz, Ripple's cofounder and former chief technology officer, and the XRP Ledger Foundation issued urgent warnings on May 14, 2026, about a sharp rise in scams targeting XRP holders on the XRP Ledger network. The alerts highlighted fake airdrops, giveaways, and impersonation schemes proliferating across social media platforms including X, Instagram, and Telegram.

Schwartz posted on X to his large following, stating, "There has been a huge escalation lately in airdrop and giveaway scams targeting XRPL users lately. Any such posts you see are likely scams. Anyone claiming to me on Instagram, Telegram, or almost anywhere else is likely a scammer." The XRP Ledger Foundation echoed the message, noting that scams targeting the XRP community had increased dramatically and urging users to avoid airdrops, giveaways, or fake customer support offers on X.

These frauds typically involve accounts impersonating XRPL developers, executives, or projects, which copy profile details to direct users to malicious sites. Victims are prompted to connect wallets or sign transactions framed as reward claims, governance votes, or NFT offers, leading to drained funds. Tactics include...