COIN: Coinbase Warns of Fake XRP, DOGE, ADA, LTC

Coinbase Assets highlighted “there could be fraudulent actors making false claims that cbADA, cbDOGE, cbDLTC, and cbzXRP are available to trade”

Coinbase is launching four new altcoin assets on its Base L2 chain. The move comes amid a growing number of phishing and scam attacks on the Base Layer-2 chain.

Coinbase Assets highlighted “there could be fraudulent actors making false claims that cbADA, cbDOGE, cbDLTC, and cbzXRP are available to trade,” about the growing number of phishing and scam attacks on the Base Layer-2 chain.

91 percent of memecoins on Base L2 had at least one feature of a security breach or a risk to investors, while 16 percent of the projects were outright scams.

"There are a large number of community-driven memecoins on Base L2, including Brett (BRETT), Keyboard Cat (KEYCAT), and Dog In Me (DOGINME), which have gained significant attention and support.

Coinbase highlighted the official addresses for the upcoming Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) tokens to mitigate concerns over the legitimacy of such tokens.

Coinbase plans to launch four altcoin assets on its Base Layer-2 chain. These will include Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Ripple (XRP). They will all be accessible through specific Base Layer-1 smart contracts.