David Schwartz has issued a fresh warning to XRP holders as scammers intensify efforts to target users of the XRP Ledger through fake giveaways, phishing links, and impersonation schemes across social media platforms.
In a post shared on X, Schwartz cautioned the XRP community against trusting unsolicited offers promising free XRP, token rewards, or NFT giveaways. According to him, most of these campaigns are designed to steal funds or gain access to users’ wallets.
SCAM ALERT: There has been a huge escalation lately in airdrop and giveaway scams targetting XRPL users lately. Any such posts you see are likely scams.
Anyone claiming to be me on Instagram, Telegram, or almost anywhere else is likely a scammer.
Stay safe XRP fam.
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 14, 2026
The warning comes amid growing activity on the XRP Ledger ecosystem, which scammers are now exploiting to target both new and experienced crypto investors.
Fake XRP giveaways and impersonation scams spread across social platforms
According to Schwartz, fraudsters are increasingly using fake social media accounts on platforms such as Instagram, Telegram, and X to impersonate prominent crypto figures and XRPL-linked projects.
Scammers often pose as Schwartz himself, Brad Garlinghouse, or projects connected to the XRP Ledger ecosystem. These fake accounts promote bogus reward programs, airdrops, and token-doubling offers to lure unsuspecting users.
Some schemes direct users to phishing websites that ask them to connect wallets or sign transactions to claim rewards. Once approved, the attackers gain access to the wallet and drain funds.
In other cases, scammers still use the old tactic of asking users to send XRP in exchange for promises of larger amounts. One reported victim allegedly lost 6,000 XRP after participating in such a fake giveaway.
Suspicious NFTs and wallet-draining tactics raise concerns
Another growing tactic involves unsolicited NFTs sent directly to XRPL wallets. These NFTs often contain misleading messages, fake verification prompts, or suspicious buy offers.
Wietse Wind recently warned users to cancel unknown NFTs immediately, instead of accepting or signing them. Blockchain explorer Bithomp has also flagged the scam method after detecting similar suspicious activity on the XRP Ledger.
Security experts say these scams rely mainly on deception rather than weaknesses in the XRPL network itself.
XRP community urged to verify every offer and protect wallet access
Schwartz reiterated that legitimate crypto companies and blockchain projects do not randomly ask users to send funds, reveal private keys, or share seed phrases in exchange for rewards.
Crypto users are advised to verify announcements only through official channels, avoid clicking unknown links, and stay away from untrusted wallet connections. Investors are also encouraged to report suspicious accounts and regularly review wallet permissions to prevent unauthorized transactions.
With phishing attacks and fake reward campaigns becoming more common across the crypto industry, XRP holders are being urged to remain cautious as scammers continue targeting popular blockchain communities. This warning is amplified by the fact that April represented the most significant month for DeFi security breaches on record, resulting in a loss of $635 million across 28 distinct exploits within 30 days. A recent report from Tiger Research shows crypto-related hacks accelerating in 2026, with at least 12 incidents recorded in April alone
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