Stablecoin

2024

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David Schwartz, <a href="https://u.today/why-not-just-burn-xrp-ripple-cto-doubts-new-xrpl-initiative">Ripple chief technology officer (CTO)</a> who took part in the creation of the XRP Ledger, has taken to his account on the X social media platform to address the XRP army with a new alert.
Schwartz spread the word about an attempt by con artists to scam him.
<h2 id="scammers-impersonating-coinbase-team">Scammers impersonating Coinbase team</h2>
Schwartz tweeted that scammers have sent him texts and an email, impersonating the “Asset Shielding Department” of the Coinbase cryptocurrency exchange, to get ahold of his personal data.
Schwartz warned the XRP community against falling for this scam should they be targeted also: “Yet another elaborate scam attempt today using both SMS and email. This is a scam. Do not fall for it.” The Ripple CTO added a screenshot of the email sent to him by the scammers.
<blockquote>
 Yet another elaborate scam attempt today using both SMS and email. This is a scam. Do not fall for it. <a href="https://t.co/Bb7EVDhIOb">pic.twitter.com/Bb7EVDhIOb</a>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1842059348069253626?ref_src=twsrc%5Etfw">October 4, 2024</a>
</blockquote> 
<h2 id="ripple-issued-42-million-rlusd-in-past-day">Ripple issued 42 million RLUSD in past day</h2>
Meanwhile, Ripple blockchain decacorn continues its experimental minting of <a href="https://u.today/xrp-community-outraged-as-ripple-usd-rlusd-faces-freeze-on-xrpl">RLUSD stablecoins</a> pegged to the U.S. dollar and backed by cash reserves and other financial tools.
According to the “Ripple Stablecoin Tracker” account on X, over the past nine hours, Ripple Treasury has created six chunks of stablecoins that comprise an impressive 42 million RLUSD in total.
The largest one constituted 10,000,000 RLUSD, then came 7,000,000 RLUSD. After that, they minted four lumps, containing around 6,000,000 RLUSD each.
At the same time, Ripple has been burning its newly made stablecoins right after minting. According to the above-mentioned source, it burned 200 RLUSD in two transactions.
<blockquote>
 💵💵💵💵💵💵💵 10,000,000 <a href="https://twitter.com/hashtag/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw">#RLUSD</a> minted at RLUSD Treasury.<a href="https://t.co/bk7pzprmBb">https://t.co/bk7pzprmBb</a>— Ripple Stablecoin Tracker (@RL_Tracker) <a href="https://twitter.com/RL_Tracker/status/1841987424798351540?ref_src=twsrc%5Etfw">October 3, 2024</a>
</blockquote> 
Recently, Ripple issued a reminder that RLUSD remains in the testing phase and therefore remains unavailable. The company warned the XRP army to avoid falling for any possible scams associated with the yet-not-launched stablecoin.

Ripple CTO Issues Crucial Scam Warning: Details

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