Summary
- Former Ripple CTO David Schwartz warned XRP holders about a fake Ripple website designed to drain cryptocurrency wallets through deception.
- Scammers copied Ripple’s branding while promising exclusive rewards before triggering malicious wallet approvals that drained victims’ XRP funds.
- Attackers also compromised Xaman’s verified X account as security experts urged investors to verify every XRP-related offer carefully before participating.
Former Ripple CTO David Schwartz has warned XRP holders about a fraudulent website impersonating Ripple to steal users’ funds. According to Schwartz, the fake platform tricks investors into approving malicious wallet transactions by promising exclusive rewards for long-term XRP holders.
Schwartz raised the warning after a screenshot of the fraudulent website appeared on X, responding with a GIF displaying the message, “IT’S A SCAM!” His response quickly spread across the XRP community and alerted users to the growing phishing campaign.
The website closely mirrors Ripple’s official platform by copying the company’s branding, logo, colors, and typography. Additionally, it includes a “Buy XRP” button, making the page appear authentic to unsuspecting visitors.
However, the scammers rely on persuasive messaging rather than technical exploits, claiming users who held XRP through previous market declines qualify for a special reward. The fraudulent page also states the opportunity recognizes patience instead of speculation while offering limited early access.
Moreover, visitors encounter messages encouraging immediate action before access supposedly closes, increasing the likelihood they will connect their wallets without verifying the website’s legitimacy.
Clicking the “Get Early Access” button reportedly activates a cryptocurrency drainer, allowing attackers to immediately transfer the XRP stored in the connected wallet once users approve the request. Since XRP Ledger transactions cannot be reversed, victims have no way to recover the stolen funds after authorizing the transaction.
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Fraudsters increasingly exploit trusted XRP brands
According to Schwartz, the campaign highlights how scammers increasingly exploit trusted cryptocurrency brands to deceive investors by manipulating users into approving transactions instead of targeting vulnerabilities within the XRP Ledger.
Additionally, the fake Ripple website forms part of a broader phishing campaign affecting the XRP Ledger ecosystem, with reports indicating that scammers are using convincing website replicas, leaked investor information, and messages designed to bypass traditional spam filters.
Another recent incident targeted Xaman, formerly known as Xumm, after attackers briefly compromised the wallet provider’s verified X account and promoted a fake token called XMN as an official launch.
Xaman founder Wietse Wind immediately dismissed those claims, confirming that Xaman has never issued a token and has no intention of launching one, thereby preventing additional users from interacting with the fraudulent promotion.
Furthermore, these attacks demonstrate that social engineering has become the preferred method for targeting cryptocurrency investors, as criminals persuade users to authorize harmful transactions instead of circumventing blockchain security.
Ripple does not offer hidden XRP loyalty rewards
According to Schwartz, Ripple does not operate secret loyalty programs, private reward pools, or exclusive campaigns for investors who never sold XRP. Any website making such promises should be treated as fraudulent.
Consequently, investors should verify website addresses before connecting wallets or approving transactions. They should also avoid entering recovery phrases or signing requests originating from unofficial platforms claiming to represent Ripple.
Schwartz’s warning underscores the increasing sophistication of phishing campaigns targeting XRP holders. Although the fraudulent website closely imitates Ripple’s branding, its reward promises exist solely to steal users’ funds. Investors should rely only on Ripple’s official communication channels before interacting with any XRP-related promotional offer.
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