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Ripple CTO Issues Crucial Warning About an Ongoing Scam

Ripple’s CTO, David Schwartz, has issued a crucial warning to investors about an ongoing scam targeting users of the defunct crypto trading platform FTX. As FTX edges closer to repaying its customers, bad actors have seized the opportunity to deceive unsuspecting users. Schwartz cautioned users against phishing emails claiming that action needs to be taken regarding their claims in the bankrupt exchange. These emails exploit customers’ fear of missing out and may urge them to connect their crypto wallets or expedite the claim process. To protect customers, the Ripple CTO shared an official link to the FTX claims page. The claims deadline has passed, and FTX is now processing customer claims and liquidating assets for repayment. Schwartz has been proactive in warning the XRP community about potential scams, including those related to stealing NFTs and fraudulent airdrops. While supportive of users earning passive income with XRP assets, he has also highlighted the risks of impermanent loss with the upcoming XRP Ledger AMM.