Ripple CTO accuses of cryptocurrency leakage scam, XRP community is stunned

Ripple CTO David Schwartz recently drew the awe of the XRP community when he warned of a crypto-exfiltration scam at first glance.

It all started with X when a user claiming to be a former Uniswap developer said he had information about a bug that allowed users to earn 41% profit on every swap.

To support his claim, user X shared GitHub code. Although user X’s claims may seem true given the GitHub code being shared, Ripple CTO quickly denounced the scam and flagged it as a crypto-exfiltration scam.

“This is a clear cryptocurrency exfiltration and contains no code that could benefit anyone other than the criminals who wrote it,” Schwartz said.

Going a step further, the Ripple CTO opened an issue on GitHub and flagged the code as a cryptocurrency emitter.

XRP community is stunned

Recent actions by the Ripple CTO have captivated the XRP community, with some members hailing the move as a fraud detection move.

This week, the Ripple CTO issued a warning message to the XRP community, highlighting a significant increase in phishing emails claiming security upgrades and verification processes for hardware wallets.

Mr. Schwartz urges the XRP community to ignore such messages unless they can be independently verified and to never enter the hardware wallet seed phrase into anything other than a hardware wallet.

This comes amid recent calls for XRP holders to protect their assets, as previously noted by U.Today. Self-custody remains a viable option, but users are urged to take necessary precautions and obtain appropriate understanding and education when considering such an option.