Scammers have escalated social‑engineering attacks on the XRPL, with one victim losing 6,000 XRP after accepting a fake NFT buy‑offer and Ripple CTO David Schwartz warning on May 14, 2026 that airdrop and giveaway scams and impersonations are widespread. The attacks use unsolicited NFTs with hidden Buy Offers, phishing sites and fake social profiles to drain wallets rather than exploiting protocol flaws, posing a direct security risk to XRP holders and broader crypto adoption. Users are advised to avoid unknown links, refuse wallet connections, and use tools from Bithomp and Xaman to review and cancel pending offers, but full recovery is rarely possible.

Bearish

Predictions Markets

See what traders are focused on

View analytics →

A user lost 6,000 XRP after falling for a scheme that promised to double their funds. That case is one of several being reported as scammers step up their efforts against XRP Ledger users, prompting a public warning from Ripple’s former chief technology officer.

Fake Offers Hiding In Plain Sight

David Schwartz, known online as JoelKatz, posted the alert on X after what he described as a sharp rise in fake airdrop and giveaway activity. He warned that nearly all such offers seen across social platforms are fraudulent, and that anyone claiming to be him on Instagram, Telegram, or similar apps is almost certainly running a scam.

The warning came alongside reports from others in the XRP space. XRPL blockchain explorer Bithomp flagged a specific trick where scammers send unsolicited NFTs to user 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 NFTs carry misleading messages — one example read “Verification: Safe XRPL verify message” — and are paired with hidden Buy 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 any unknown offers without delay.

What Scammers Are Actually Doing

The methods are not complex but they are effective. Scammers build fake social media profiles impersonating Schwartz, Ripple CEO Brad Garlinghouse, and projects tied to the XRPL. One fake Schwartz profile on Instagram was flagged by a community member last month and reported to the platform.

Phishing plays a large role too. Fraudulent websites prompt users to connect their wallets or approve 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 receiving more back.

The scams are not exploiting flaws in the XRP Ledger itself. They rely entirely on deceiving people.

Be aware of new scams on the #XRPL.

Scammers are tricking users into signing NFT Buy Offers with misleading memos like: “Verification: Safe XRPL verify message.” Those offers can get accepted and drain huge amounts of $XRP.

Always double-check:

– what transaction type you are… pic.twitter.com/nNl6Mj4Ryl

— Bithomp (@bithomp) May 11, 2026

Protect Your Wallet Before It’s Too Late

Schwartz made clear that no legitimate organization runs surprise giveaways or asks users to send funds, share private keys, or reveal seed phrases. His verified X account is the only place users should look for communication from him.

For protection, users are advised to avoid unknown links, refuse to connect wallets to unverified websites, and report suspicious accounts. Tools from Bithomp and Xaman can help users review and cancel pending offers before any damage is done. Acting fast after a scam occurs may limit losses, but full recovery is rarely possible.

Featured image from Unsplash, chart from TradingView

Read the article at NewsBTC