Ripple CTO David Schwartz Warns XRP Community Against Coinbase Account Scam

David Schwartz, the chief technology officer (CTO) at Ripple, has addressed his army of X followers to warn them about a scam he has recently come across

David Schwartz, CTO at Ripple, has warned his followers about a Coinbase scam.

The email, allegedly from the Coinbase support team, asks users to follow a link to update their account details.

However, Schwartz has warned that this is a scam and that users should not click on the link.

The XRP community thanked Schwartz for issuing such warnings, with one large XRP-themed account tweeting that it's "great" that he does this to help protect the community.

Schwartz recently joined a discussion about crypto taxation and expressed a negative view about crypto airdrops, particularly XRP ones.

He warned the crypto community against falling for crypto airdrops, even if they are not scams but completely legal.

In particular, he stated that those could cause significant financial issues for receivers, especially in the U.S. and other countries where this sort of income and crypto are taxed.

While long-term capital gains are taxed when crypto increases in value and is converted into fiat, salaries received in crypto, as well as airdrops, would make a holder pay taxes when the asset is first received.

Income revenue services see all those airdrops as taxable income.

On Friday, XRP, the fourth-largest cryptocurrency by market capitalization, saw a rise of almost 4%, moving from the $2.27 level to reach the $2.36 mark.

Overnight, however, it went down a little, and at the time of this writing XRP is changing hands at $2.34050 per coin.