Ripple's chief technology officer 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 an image of the phishing email, in which the sender claimed to be a representative of Coinbase. The scammers attempted 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 their own email was accompanied by a phone call from a fake Coinbase support team based in Canada. However, they confirmed that they did not fall for the scam.