RippleX, the XRPL development arm of Ripple, has issued a new warning about a growing wave of scams targeting XRP holders.
In a recent X post, RippleX warned XRP community members to be cautious of scams impersonating Ripple executives through fake livestreams and deepfake videos. This malicious content has been circulating across multiple social media platforms, including X.
Growing Deepfake Scams
The message comes amid a surge in deepfake scams targeting unsuspecting XRP community members. Scammers often leverage artificial intelligence to create sophisticated videos impersonating Ripple executives, specifically CEO Brad Garlinghouse, in an effort to deceive investors.
These fraudulent videos often feature scammers pretending to offer XRP giveaways in exchange for small deposits of the token. In many cases, they urge viewers to send funds to a specific wallet address with the false promise of receiving double the amount sent.
Such AI-generated videos are often posted in the comment sections of posts from Ripple’s official accounts or those of its executives, giving them a misleading appearance of legitimacy.
RippleX’s Latest Warning
In its latest advisory, RippleX emphasized that no Ripple employee will ever ask users to send funds, participate in investment schemes, or share wallet information such as seed phrases.
Moreover, RippleX urged the community to verify all information through Ripple’s official accounts on X, specifically @RippleX and @RippleXDev, before taking any action relating to giveaways.
The message concluded with a stern reminder, telling users to “Keep your XRP yours,” urging holders to safeguard their tokens.
Efforts to Combat XRP Scams
Scammers have long targeted the XRP community with deceptive giveaway campaigns. However, the trend accelerated in mid-2023 following Ripple’s partial legal victory against the U.S. SEC.
Impersonating Garlinghouse and other Ripple executives, fraudsters claimed that the giveaways were part of celebrations marking Ripple’s court success.
However, the company, along with other prominent community figures, continues to dismiss these giveaways as malicious offers.
In 2020, Ripple filed a lawsuit against YouTube over the platform’s failure to protect XRP community members from scams, particularly deepfake videos impersonating CEO Brad Garlinghouse.
A year later, the company withdrew the case after reaching an agreement with YouTube to jointly remove these fraudulent promotions.
Despite these measures, scammers continue to target unsuspecting XRP investors, prompting Ripple to reiterate its call for users to remain vigilant.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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