In a concerning turn of events, scammers have once again targeted XRP holders, deploying deep fake technology to create a highly deceptive video featuring Ripple CEO Brad Garlinghouse. The fraudulent video, circulating across various platforms, urges viewers to send a specific amount of XRP to a designated address, promising a doubling of their investment within a minute.
Don't fall for this deep fake scam,
they will steal your #XRP.
Please share far and wide. pic.twitter.com/11oMTNKL12
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) November 12, 2023
Crypto Eri sounds the alarm on this scam
Prominent XRP community member Crypto Eri sounded the alarm on this scam, unequivocally warning XRP holders against falling victim to the perpetrators. She stated, “Don’t fall for this deep fake scam. They will steal your XRP.” The deceptive video has raised significant concerns within the XRP community, emphasizing the increasing sophistication of scams targeting holders of the cryptocurrency.
With deceptive videos proliferating on popular platforms such as YouTube, questions have been raised about the platform’s ability to effectively combat the promotion of fraudulent activities, especially as scammers continue to advance their techniques. The resurgence of XRP scams aligns with recent legal triumphs for the cryptocurrency in its battle with the U.S. Securities and Exchange Commission (SEC).
Ripple, the major distributor of XRP, has consistently emphasized that the company is not conducting any XRP giveaways. The proliferation of scams underscores the vulnerability of XRP holders, who may trust information disseminated by seemingly authoritative sources due to their strong attachment to the project.
XRP holders to exercise caution
XRP holders are particularly urged to exercise caution and scepticism when faced with promotions or requests for XRP investments. Ripple continues to caution investors against sending their XRP to any address, emphasizing that any promotion claiming to offer an XRP giveaway should be treated as a scam.
The sophistication of scammers employing deep fake technology highlights the importance of vigilance within the XRP community. As advancements in technology provide new tools for exploitation, XRP holders must remain proactive in protecting their investments. Unsolicited emails, messages, or videos should be approached with scepticism, and when in doubt about the legitimacy of a promotion, it is advised to err on the side of caution and refrain from sending any XRP.
The XRP community’s resilience and ability to stay informed will be crucial in mitigating the impact of these malicious schemes. By maintaining heightened awareness and skepticism, XRP holders can collectively contribute to safeguarding themselves and the broader community from falling prey to fraudulent activities that exploit cutting-edge technologies like deep fake videos.