The controversial proposal has resurfaced again, dominating discussions within the XRP community.Ripple’s chief technology officer, David Schwartz, has offered his opinion on the controversial XRP buyback proposal, saying it looks like a scam.The Ripple executive made this known in a tweet yesterday. It came in response to an XRP community member who requested his thoughts on the controversial proposal.

According to the XRP Ledger architect, on the surface, it looks like a scam, though he has not taken a close look at it. Schwartz, referring to unspecified incidents in 2012 and 2022, cautioned users to be wary of anyone offering high returns for low risk.

While Schwartz does not specify, it is likely that by 2012 he is referring to the collapse of the Bitcoin Savings and Trust run by Trendon Shavers, AKA Pirate. The so-called investment platform crashed in a year as Shavers was unable to meet the promised returns of up to 7% per week. After the collapse in 2012, investigations revealed that Shavers spent investors’ money on personal interests.

“I haven’t looked at it very closely,” Schwartz wrote in a tweet yesterday. “But what I have seen looks an awful lot like a scam to me. If we’ve learned anything from 2012 and 2022 it’s that anyone promising high returns with low risk is almost certainly going to rob you.”