A user lost 6,000 XRP after falling for a scheme that promised to double his money. This case is one of several being reported as scammers ramp up their efforts against XRP Ledger users, prompting a public warning from Ripple’s former Chief Technology Officer.
Fake offers hidden in plain sight
David Schwartz, known online as JoelKatz, posted the alert except for what he described as a sharp increase in fake airdrops and giveaways. He warned that almost all of these offers on social platforms are fraudulent, and that anyone claiming to be him on Instagram, Telegram or similar apps is almost certainly a scammer.
The warning came alongside reports from others in the XRP room. XRPL blockchain explorer Bithomp has spotted a specific trick where scammers send unsolicited NFTs to user wallets.
SCAM ALERT: There has been a huge escalation recently in airdrop and giveaway scams targeting XRPL users. Any such messages you see are probably a scam.
Anyone claiming to be me on Instagram, Telegram or almost anywhere else is probably a scammer.
Stay safe XRP fam.
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 14, 2026
The NFTs contain misleading messages – one example reads “Verification: Secure XRPL Verification Message” – and are accompanied by hidden purchase 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 unknown offers immediately.
What scammers actually do
The methods are not complex, but effective. Scammers build fake social media profiles posing as Schwartz, Ripple CEO Brad Garlinghouse and projects related to the XRPL. One fake Schwartz profile on Instagram was flagged by a community member last month and reported to the platform.
Phishing also plays a major role. Fraudulent websites ask users to link their wallets or authorize 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 getting more in return.
The scam does not exploit flaws in the XRP Ledger itself. They rely entirely on misleading people.
Be aware of new scams on the #XRPL.
Scammers trick users into signing NFT purchase offers with misleading memos such as: “Verification: Secure XRPL Verification Message.” These offers can be accepted and cost huge amounts $XRP.
Always check:
– which transaction type you are… pic.twitter.com/nNl6Mj4Ryl
— Bithomp (@bithomp) May 11, 2026
Protect your wallet before it’s too late
Schwartz made it clear that no legitimate organization is organizing surprise promotions or asking users to send money, share private keys, or reveal seed phrases. His verified X account is the only place users should look for communications from him.
For protection, users are advised to avoid unknown links, refuse to link wallets to unverified websites, and report suspicious accounts. Tools from Bithomp and Xaman can help users review and cancel ongoing offers before any damage is done. Acting quickly after a scam occurs can limit losses, but full recovery is rarely possible.
Featured image from Unsplash, chart from TradingView