Citing Bitcoin.com, Ripple CTO David Schwartz has issued an urgent warning about a surge in phishing scams targeting crypto investors, following a $3 million XRP theft. Hackers are using deceptive emails disguised as hardware wallet providers to trick users into surrendering their seed phrases. A U.S. investor reportedly lost 1.2 million XRP after mistakenly importing their cold wallet seed phrase into a mobile app, converting it into a hot wallet. The attacker used the cross-chain platform Bridgers to execute over 120 Ripple-to-Tron swaps, funneling funds to entities linked to the sanctioned marketplace Huione. Analysts highlight the need for better user education and clearer wallet product design to combat rising threats.
Ripple CTO Warns of Phishing Surge Targeting Seed Phrases After $3M XRP Theft
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