As an analyst with extensive experience in the crypto space, I can’t help but feel a sense of familiarity when reading about the latest scam attempt targeting David Schwartz, Ripple’s CTO. Scams have become as much a part of the crypto world as blockchain technology itself, and it’s always disheartening to see honest individuals like Schwartz being targeted.
David Schwartz, one of the creators of the XRP Ledger and currently Ripple‘s Chief Technology Officer (CTO), recently posted an update on the X-related social media platform, directing his message towards the XRP community.
Schwartz spread the word about an attempt of con artists to scam him.
Scammers impersonating Coinbase team
In the realm of my ongoing exploration, I myself came across a concerning incident where I received both text messages and emails, seemingly originating from what appeared to be the “Asset Shielding Department” of Coinbase, the renowned cryptocurrency exchange. The purpose behind these communications seemed to be the acquisition of my personal data by individuals posing as representatives of this department. This underscores the importance of remaining vigilant against such cyber scams in our digital age.
Schwartz warned the XRP community against falling for this scam should they be targeted also: “Yet another elaborate scam attempt today using both SMS and email. This is a scam. Do not fall for it.” The Ripple CTO added a screenshot of the e-mail sent to him by the scammers.
Another tricky scheme was spotted today, reaching you via text message and email. Remember, this is a fraud. Stay vigilant and don’t get fooled by it.
— David “JoelKatz” Schwartz (@JoelKatz) October 4, 2024
Ripple issues 42 million RLUSD in past day
Currently, the Ripple blockchain company, valued at over $10 billion (decacorn), is conducting trials involving the creation of RLUSD stablecoins that are linked to the U.S. dollar and supported by cash holdings and various financial instruments.
As per the “Ripple Stablecoin Tracker” on platform X, within the last nine hours, the Ripple Treasury has minted six individual blocks of RLUSD stablecoins, amounting to a significant total of 42 million units.
The largest one was worth 10,000,000 RLUSD, followed by another worth 7,000,000 RLUSD. Subsequently, they created four chunks, with approximately 6,000,000 RLUSD in each one.
Concurrently, Ripple quickly destroys the newly created stablecoins following their creation. As per the cited reference, this process occurred in two separate instances, with 200 RLUSD being destroyed in each case.
💵💵💵💵💵💵💵 10,000,000 #RLUSD minted at RLUSD Treasury.
— Ripple Stablecoin Tracker (@RL_Tracker) October 3, 2024
Lately, Ripple has emphasized that RLUSD is still undergoing testing and thus not accessible at this time. They cautioned the XRP community to steer clear of potential frauds linked to the yet-to-be-released stablecoin.
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2024-10-04 12:06