Ripple's chief technology officer has warned the community to be aware of a new email scam being used by fraudsters. The scam involves impersonating US-based Coinbase to gain access to users' accounts. Schwartz shared a picture of the phishing email, in which the sender claimed to be a representative of Coinbase. The fraudsters tried to attract users' attention by informing them that their account information needed to be reviewed to ensure smoother transactions with the exchange.

Meanwhile, some investors have confirmed receiving this email. One user claimed that his own email was accompanied by a phone call from a supposed Coinbase support staff member from a Canadian line, but he confirmed that he did not fall for the scam.