error: The data couldn’t be read because it isn’t in the correct format.

[dil-prawat]

I did Pod install and then double click .xcworkspace file to open it in xcode. On building the project it returning this one error "error: The data couldn’t be read because it isn’t in the correct format." No other logs are present. Sharing the details here:
CocoaPods : 1.13.0
Ruby : ruby 3.2.2 (2023-03-30 revision e51014f9c0) [arm64-darwin22]
RubyGems : 3.4.19
Host : macOS 13.5.1 (22G90)
Xcode : 14.3.1 (14E300c)
Git : git version 2.39.2 (Apple Git-143)
Ruby lib dir : /opt/homebrew/Cellar/ruby/3.2.2_1/lib
Repositories : trunk - CDN - https://cdn.cocoapods.org/
Apple with M1 chip

I have tried every step I got with stackoverflow answers, have formatted the sytem to do a fresh installation of project, still same issue. Please help if someone knows about this issue.