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Sujit Kumar
Oct 4, 2024
by Sujit Kumar

Ripple CTO David Schwartz Warns Community of Scammers

David Schwartz Warns Community
Ripple CTO David Schwartz, a key figure in the creation of the XRP Ledger, recently issued a warning to the XRP community about a new scam attempt. Schwartz revealed on X (formerly Twitter) that scammers, posing as the "Asset Shielding Department" of Coinbase, attempted to steal his personal information via SMS and email. In his tweet, he urged the community to remain cautious and avoid falling victim to such elaborate scams. Schwartz shared a screenshot of the fraudulent email to alert his followers, reinforcing the need for vigilance against phishing attacks.

Ripple Mints and Burns 42 Million RLUSD

In other Ripple news, the company has continued its experimental minting of RLUSD stablecoins, which are pegged to the US dollar and backed by cash reserves and financial instruments. According to data from the "Ripple Stablecoin Tracker," Ripple Treasury minted six batches of RLUSD within a nine-hour window, totaling 42 million RLUSD. The largest batch amounted to 10 million RLUSD, followed by 7 million, with the remaining four batches each containing approximately 6 million RLUSD.

Interestingly, Ripple also burned 200 RLUSD across two transactions shortly after minting, further highlighting the experimental nature of this project. Ripple has reminded the XRP community that RLUSD is still in its testing phase and not yet available for public use, warning users to be wary of any scams linked to the stablecoin’s launch.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Ripple CTO David Schwartz Warns Community
Ripple CTO David Schwartz Warns Community of Scammers
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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