XRP Community Stunned as Ripple CTO Flags Crypto-Draining Scam

Ripple CTO David Schwartz recently caught the awe of the XRP community after flagging a crypto-draining scam at just one look.

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

To back up his claims, the X user shared a GitHub code. While the assertion by the X user might seem true, given the GitHub code shared, the Ripple CTO was quick to call out the scam, which he flagged as a crypto-draining scam.

“This is an obvious crypto drainer that contains no code that could provide any kind of yield for anyone but the criminal who wrote it,” Schwartz stated.

Taking a step further, the Ripple CTO opened an issue on GitHub, flagging the code as a crypto drainer.

XRP community stunned

The recent action by the Ripple CTO has captivated the XRP community, with some members hailing the move as a scam-detecting move.

During the week, the Ripple CTO issued a message of caution to the XRP community, highlighting a huge increase in phishing emails claiming hardware wallet security upgrades or verification processes.

Schwartz urges the XRP community to ignore any such messages unless they can independently confirm them and to never enter a hardware wallet’s seed phrase into anything other than the hardware wallet.

This comes amid a recent call for XRP holders to protect their assets, as U.Today earlier previously. While self-custody remains a viable option, users are urged to take necessary precautions and have proper understanding and education even when just exploring such an option.