Major crypto exchange Coinbase has put holders of Cardano (ADA), Litecoin (LTC), XRP and Dogecoin (DOGE) on notice. In a recent tweet, Coinbase indicated that wrapped versions of Cardano, Dogecoin, Litecoin and XRP — cbADA, cbLTC, cbXRP and cbDOGE — are coming soon.
Coinbase revealed that these assets, cbADA, cbLTC, cbXRP and cbDOGE, are not yet live or available for trading. "These assets are not yet live or available. We will announce their launch at a later date," Coinbase stated in its tweet.
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:…
The exchange warned that there could be fraudulent actors making false claims that cbADA, cbDOGE, cbLTC and cbXRP are available to trade. With crypto scams increasing, such prelaunch misinformation often aims to exploit user anticipation and lack of verification.
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To counter this, Coinbase took a proactive step by sharing the official Base contract addresses for each of the crypto assets, ensuring that users have a verified reference point once they go live.
Last September, Coinbase rolled out cbBTC — Coinbase Wrapped BTC — an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase. In November of the same year, the wrapped Bitcoin product, cbBTC, debuted on Solana to expand its use beyond the Ethereum ecosystem.
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