- Ripple CTO flags deepfake scam using Garlinghouse to target XRP.
- Garlinghouse warns XRP holders of hijacked YouTube giveaway scams.
- Deepfake fraudsters exploit Ripple CEO image to deceive investors.
According to a recent X post, Ripple Chief Technology Officer David Schwartz has raised an alarm over a deepfake scam targeting Ripple CEO Brad Garlinghouse. The video falsely portrayed Garlinghouse outlining plans for XRP and attempting to deceive community members into engaging in a fraudulent scheme.
Schwartz replied with a GIF about a scam alert and shared his warning to XRP holders to be wary. The response underscores the increasing issue of fake personas being used to perpetrate impersonation fraud through the manipulation of digitization to propagate misinformation.
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Rising Deepfake Scams in Crypto
Fraudsters are increasingly using deepfake technology to repurpose genuine footage of industry leaders. Here, the image of Garlinghouse was edited to advertise a counterfeit web page associated with crypto wallets.
These types of scams typically present social wallet addresses and order payments, giving the victims an illusion of authenticity. Deepfakes create a significant risk to investors because they can be hard to spot as fake.
Impersonators have targeted Ripple executives on many occasions. As the face of the company before the public, Garlinghouse has become an easy target of such attacks. To enhance security, Ripple recently became a member of the Beacon network by TRM Labs, a real-time crime response platform to combat crypto fraud.
Garlinghouse Issued Fresh Warning in July
In July, Ripple CEO Brad Garlinghouse issued a direct warning to XRP holders during the ongoing market rally. He disclosed that unscrupulous people were also stealing genuine YouTube accounts and recreating them under the guise of Ripple.
These offline promoters advertised bogus XRP giveaways, falsely indicating that Ripple promoted them. According to Garlinghouse, the company and he would never ask users to transfer XRP on any basis.
Fraudsters have also been imitating Ripple’s branding, usernames, and visuals to deceive viewers. Most of them were based on fake live streams and falsified videos promising absurdly high returns to attract victims.
Garlinghouse encouraged the XRP community to remain alert and report any suspicious material promptly. He emphasized that fraudsters were increasing during the bull market and that sense-making was needed.
Conclusion
Warnings from both David Schwartz and Brad Garlinghouse emphasize the growing risks of impersonation scams. As deepfakes and fake accounts spread, the XRP community must remain alert and verify information before taking action.
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