Ripple CTO Raises Crypto Scam Alert

Ripple CTO David Schwartz has sounded the alarm on a new cryptocurrency scam, showcasing the increasing sophistication of fraudulent activities within the crypto sphere. Schwartz, the mastermind behind XRP Ledger and the current chief technology officer at Ripple, recently issued a warning regarding a deceptive scheme targeting users of the popular NFT marketplace, OpenSea.

In a social media post, Schwartz revealed an email purporting to be a bid from a potential buyer on OpenSea. Alongside the post, he attached a screenshot showcasing the fraudulent nature of the email. “This is a scam,” Schwartz emphasized.

He directed users to scrutinize the legitimacy of the “Review Offer” link, advising them to mouseover it. If the link redirected to a SurveyMonkey URL, it was flagged as a potential scam. He further cautioned that clicking on the link would lead to a counterfeit OpenSea page, but SurveyMonkey had already blocked the malicious site.

CAUTION: This is a scam.

The key sign would be if you mouseover the “Review Offer” link, it goes to a SurveyMonkey link. If you click on it, you would have gotten a fake OpenSea page but SurveyMonkey has already blocked it. pic.twitter.com/l14USuyQ5s

— David “JoelKatz” Schwartz (@JoelKatz) January 25, 2024

The revelation comes at a time when the crypto industry is grappling with an upsurge in scam cases. Cryptocurrency scams continue to evolve in complexity, with perpetrators employing deceptive tactics to target unsuspecting users.

Ripple, given its prominent position in the crypto space, is not immune to such fraudulent activities. Schwartz’s alert serves as a reminder of the need for constant vigilance within the crypto community. The sheer audacity of scammers, as demonstrated for example by fake ads featuring Ripple CEO Brad Garlinghouse promising free XRP, highlights the challenges faced by crypto space.

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