Coinbase Issues Fresh Warning to XRP, DOGE, LTC, and ADA Holders

Coinbase has issued a clear warning to holders of XRP, Dogecoin, Litecoin, and Cardano following increasing speculation around newly wrapped tokens. According to the exchange, cbXRP, cbDOGE, cbLTC, and cbADA are not yet available for trading.

The announcement was released using the official Coinbase Twitter, warning users against fake listings or unofficial tokens. Token pre-launch periods attract plenty of bad actors who try to spread misinformation to dupe unsuspecting users.

To prevent confusion and fraud, Coinbase published the official Base contract addresses for each of the upcoming wrapped tokens. This move helps users identify the correct assets and avoid falling for counterfeit versions once the tokens go live.

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Each of these wrapped tokens is expected to function similarly to Coinbase’s previously released cbBTC, which is backed 1:1 by Bitcoin. That product was later introduced to Solana to expand its use beyond Ethereum, setting a pattern for future wrapped releases.

There could be fraudulent actors making false claims that cbADA, cbDOGE, cbLTC, and cbXRP are available to trade. The only official Base contract addresses for these assets will be:

cbADA: 0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c
cbDOGE:…

— Coinbase Assets (@CoinbaseAssets) May 13, 2025

There have been increasing instances of wrapped assets scams, particularly in the build-up to large exchange launches. As such, Coinbase has made early moves to secure its users and clear reference points.

Coinbase Ramps Up Institutional Focus and Broadens Global Strategy

Coinbase continues strengthening its presence in traditional financial markets alongside its latest wrapped asset announcement. The exchange recently became the first crypto platform added to the S&P 500 index, pushing its stock higher as investor interest increased.

Coinbase also expands its presence among institutional clients through mergers and product expansion. It recently announced that it sought to acquire Deribit, a giant crypto derivatives platform, in a deal worth $2.9 billion.

This acquisition signals the exchange’s intention to expand in the crypto options space and cater to an increased appetite in the professional trader market. At the same time, Coinbase keeps working on products aimed specifically at both retail and institutional audiences.

With the release of contract addresses and public guidance, Coinbase is encouraging crypto users to stay cautious. Pre-launch periods are usually a target for fraudulent schemes, and Coinbase is doing its best to eliminate such risks with open communication in advance.

XRP, DOGE, LTC, and ADA holders should stay alert as Coinbase prepares to launch its wrapped versions. The exchange has cautioned against false trading claims and is directing users to official information to guarantee safety and clarity.

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