Ripple CTO Issues Urgent Scam Warning To XRP Community

The company said that Ripple CTO David Schwartz has issued a critical scam alert to the XRP community and the broader cryptocurrency sector.

Schwartz highlighted a tweet from an account impersonating @loopringorg, which falsely reported a security breach and loss of customer funds, the company announced.

The company stated that Schwartz warned users this message was a scam, and the fake account was suspended by the X team.

Schwartz updated his post with a link to the genuine @loopringorg tweet, which provided accurate details of the incident, the company said.

Furthermore, the Loopring team revealed that hackers attacked several Loopring Smart Wallets by posing as wallet owners and resetting ownership, the company reported.

The company announced that the hackers exploited Loopring’s 2FA service and gained approval from the Official Loopring Guardian, leading to the suspension of Guardian services.

Ripple Issues Community Scam Alert

However, loopring is now working with law enforcement and security experts to track down the hackers, and has shared the hacker addresses, seeking help from the crypto community, the company stated.

Last week, the company said that Schwartz addressed the XRP community on a similar issue involving a scam message from an account impersonating the X support team.

The company noted that the scam message claimed the user’s account was under investigation for copyright violations, urging them to complete a form to avoid suspension.

Also, Schwartz confirmed that this message was fake and warned the community to remain vigilant against such scams, the company reported.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.