Ripple CTO Warns XRP Holders of Uniswap Scam and Phishing
Ripple’s Chief Technology Officer, David Schwartz, has exposed a sophisticated crypto-drainer scam targeting XRP holders. The fraudster, posing as a Uniswap developer on social platform X, falsely claimed a 41% yield per swap via a supposed Uniswap bug and shared malicious GitHub code to trick users into approving wallet connections. Once granted access, the script drained assets without delivering any genuine returns. Schwartz quickly identified the threat, flagged and reported the malicious repository on GitHub, opened an issue to alert developers, and urged the XRP community to remain vigilant. He also warned of a surge in phishing messages impersonating hardware wallet security updates, advising users never to enter seed phrases outside official wallet devices and to independently verify unsolicited requests. This alert underscores ongoing phishing risks and reinforces best wallet security practices for XRP holders and crypto traders.
Neutral
The revelation of this scam does not indicate a flaw in XRP’s protocol or core technology, but rather highlights social engineering threats leveraging Uniswap branding. In the short term, heightened security alerts may trigger cautious sentiment among traders, possibly slowing buying momentum. However, Schwartz’s prompt intervention and clear guidance reinforce confidence in the XRP development team’s vigilance, which can support long-term stability. Overall, the news is likely to have a neutral effect on XRP’s price, as it addresses external scam risks without undermining the asset’s fundamentals.