Ripple CEO Brad Garlinghouse has issued a clear warning to XRP holders following a recent spike in the token’s price. According to him, scammers have increased their efforts to exploit the bullish momentum by targeting the XRP community, particularly through YouTube.
Garlinghouse explained that fraudsters have been hijacking legitimate YouTube accounts. They then rebrand these channels to look like Ripple’s official page. Once rebranded, they promote fake XRP giveaways, claiming to be backed by Ripple or its executives. However, Garlinghouse stressed that Ripple will never ask users to send XRP or participate in any giveaway that requires payment upfront.
Scammers Mimic Ripple’s Branding
Ripple has observed a notable rise in these impersonation scams in recent weeks. The scammers copy Ripple’s official logos, visuals, and usernames to deceive viewers. Most of these scams appear through fake live streams or edited videos that promise unrealistic profits.
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Garlinghouse encouraged the XRP community to remain watchful and report suspicious activities immediately. He warned that scams tend to increase in bull markets, making vigilance even more critical.
AI Technology Fuels New Wave of Crypto Scams
On June 13, Ripple’s legal team issued a separate advisory. They raised concerns about a growing trend involving artificial intelligence in crypto-related scams. Ripple’s Chief Legal Officer, Stuart Alderoty, noted that scammers now use deepfake voice cloning to impersonate Ripple executives, including Garlinghouse.
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These AI-powered scams aim to promote fake investment schemes and giveaways, making it harder for victims to detect fraud. Alderoty reaffirmed that Ripple has no involvement in any XRP giveaways.
Ripple also highlighted several common scam strategies. These include phishing links, fake investment groups, and trust-based schemes designed to steal user funds. Alderoty urged users not to click on unknown links or reply to unsolicited messages. He also advised against sharing personal keys or recovery phrases under any circumstances. While acknowledging the impact these scams have had on investors, Ripple called on the crypto community to remain alert. The company emphasized that all official communication from Ripple will only appear on verified platforms.
