Coinbase has issued an urgent warning about fake versions of XRP, ADA, and DOGE tokens currently circulating online.
In a recent announcement, the exchange revealed that scammers are promoting false wrapped tokens — cbXRP, cbADA, cbLTC, and cbDOGE — which are not yet officially launched. These fake assets are being used to trick investors and exploit hype around upcoming listings.
Coinbase Warning: Fake cb-tokens not yet live
According to Coinbase, wrapped versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), and XRP will soon be launched under the cb prefix — similar to cbBTC, a token wrapped and backed 1:1 by Bitcoin. However, the exchange emphasizes that these cb-assets are not live and not available for trading.
Despite this, malicious actors are already claiming that these tokens can be bought or traded. Coinbase warns users to be cautious and avoid any unofficial offers or platforms promoting these fake tokens.
To combat misinformation, Coinbase has proactively published the official Base contract addresses for the wrapped tokens. These addresses will serve as a verified reference once the assets go live, helping users identify the legitimate versions and avoid scams.
Coinbase strengthens position amid market growth
This warning comes at a time when Coinbase is expanding its presence in global crypto markets. Last week, Coinbase became the first crypto exchange to be included in the S&P 500 index, marking a major milestone for the industry. The company also announced its $2.9 billion acquisition of Deribit, a leading crypto derivatives exchange, to gain a foothold in the options market.
Even with growing mainstream recognition, the crypto space remains vulnerable to fraud and manipulation. By issuing this warning, Coinbase aims to protect its users and reinforce its image as a secure and transparent platform.
Users are strongly advised to follow Coinbase’s official channels for future updates and token launch announcements. Any offer involving cbXRP, cbADA, cbDOGE, or cbLTC outside of Coinbase should be considered fraudulent until proven otherwise.
