With nearly $443 billion estimated to be stolen by scammers globally in 2025, David Schwartz argued that excessive control by social media platforms can hinder anti-fraud efforts, especially for XRP.
Schwartz warned that social platforms and influencers should not aggressively filter scam-related content in a bid to enhance user protection. In an X reply to crypto user Khaled Elawadi, who had suggested that social media platforms adopt truth filters monitored by artificial intelligence (AI), Schwartz urged Key Opinion Leaders (KOLs) to inform their followers of all the emerging scams.
“You might like that, but it would reduce engagement for the platform. For example, you wouldn’t be able to protect your followers from XRP scams because you wouldn’t see them,” Schwartz highlighted.
Furthermore, he emphasized that social media users should always remember that not everything on social media needs interaction, especially through clicking.
“Not every interaction you have on social media has to be for you,” he added.
As a result, Schwartz pointed out that he would not filter any content on social media platforms even if provided with the option.
“I’d let through pretty much everything. I don’t mind seeing nonsense. I like to keep tabs on what lies are going around anyway. But I’m probably not typical,” Schwartz disclosed.
Common XRP scams on social media platforms
As the oldest altcoin with a global community, XRP has attracted scammers on social media platforms. Among the most commonly reported XRP scams are giveaways from top executives at Ripple Labs led by CEO Brad Garlinghouse.
However, Ripple joined other crypto projects to launch the Tech Against Scams Coalition (TASC) to help counter online threats.
What’s next for this crypto asset
Schwartz argues the mainstream adoption of XRP needs influencers to inform users of active potential scams.
Meanwhile, XRP’s price has been trapped in a horizontal consolidation over the past two months, currently retesting the lower boundary.
The token’s price is well positioned to reach $2.26, backed by strong institutional demand, especially if it consistently closes above $1.63, as per analysis by Aksel Kibar, a former fund manager.
Featured image via Shutterstock
