Ripple's David Schwartz warns of new type of crypto wallet scam
Ripple's David Schwartz warns of new type of crypto wallet scam
Ripple CTO David Schwartz has reported a new type of cryptocurrency fraud that is now reaching a new level and using new tactics in the cryptocurrency world.
David Schwartz published a warning in X: "Caution, new crypto scam!" He also informed his readers how to recognize the signs of scams.
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Schwartz is one of the creators of the XRP Ledger blockchain and has repeatedly written about how not only cryptocurrency companies but also individuals can protect themselves and their assets. Now, Ripple's CTO has revealed a fraudulent scheme that leaves users of the NFT OpenSea marketplace vulnerable in the first place, U.today reported.
In a tweet, he showed a sample email that purports to redirect the user to a fake OpenSea page. The email mimics an offer from a potential buyer of OpenSea. Schwartz stated that "this is a scam."
The new scheme demonstrates the growing sophistication of crypto scammers, who continue to invent new mechanisms to defraud crypto wallet owners.
At the same time, David Schwartz emphasized the absurdity of rumors about the loss of XRP: "It should be impossible to lose value."
As a recommendation to users, he advised them to carefully check the compliance of the "View Offer" link and the direction to the official website. You can do this without clicking on the link, just by hovering over it. If the link leads to a SurveyMonkey URL, it's a clear sign of fraud. He also warned that clicking on the link would take you to a fake OpenSea page. The phishing site has since been blocked.
David Schwartz's warning is particularly relevant now, as fraud in the crypto industry is on the rise and regulators accuse crypto companies of failing to combat the use of cryptocurrencies in money laundering and terrorist financing. Meanwhile, fraud methods are becoming more sophisticated, and criminals are using new schemes to defraud.
Even Ripple faced scam activity when a fake ad featuring Ripple CEO Brad Garlinghouse appeared, purportedly promising free XRP tokens.
Further reading: Number of small crypto wallets has plummeted
