RippleX Warns XRP Holders of Deepfake Scams Targeting Investors

TLDR

• RippleX has issued a warning about an increase in deepfake scams targeting XRP holders.
• Scammers are impersonating Ripple executives, especially CEO Brad Garlinghouse, using AI-generated deepfake videos.
• The fraudulent videos promote fake XRP giveaways, urging viewers to send tokens in exchange for double the amount.
• RippleX emphasized that no Ripple employee will ever ask users to send funds or share wallet information.
• RippleX advised XRP holders to verify giveaway information through official Ripple accounts on X.

RippleX, the development arm of Ripple, has issued a new warning to the XRP community about increasing scams. The company cautioned holders to be aware of fraudulent activities, particularly those involving deepfake videos and fake livestreams. These scams are primarily targeting XRP investors by impersonating Ripple executives.

Scammers Use Deepfake Videos to Impersonate Ripple Executives

RippleX has identified a growing trend of scams using AI-generated deepfake videos. These videos often feature fraudulent actors pretending to be Ripple executives, specifically CEO Brad Garlinghouse. Scammers then promote fake XRP giveaways to deceive users into sending funds.

RippleX emphasized that these deepfake videos are circulating on various social media platforms, including X. The videos typically encourage XRP holders to send small amounts of tokens to receive larger payouts in return. These fake offers often appear under posts from official Ripple accounts, making them seem more credible.

According to RippleX, no employee of Ripple will ever request users to send funds or share wallet information. RippleX reminded the community to verify any information about giveaways by checking official Ripple accounts on X. “Keep your XRP yours,” RippleX urged, warning users to stay vigilant.

RippleX Takes Action Against Ongoing Scams Targeting XRP Holders

Ripple has been addressing scams targeting the XRP community for several years. In 2020, the company sued YouTube for not preventing deepfake scams involving Garlinghouse. After a settlement in 2021, Ripple and YouTube agreed to work together to remove fraudulent content.

Despite these efforts, scammers continue to exploit XRP holders, especially following Ripple’s partial legal victory against the U.S. SEC in 2023. Fraudulent giveaway campaigns have surged since that time. These campaigns often claim to celebrate Ripple’s court success, urging users to send tokens to “double” their amount.

RippleX continues to warn users to be cautious and to report any suspicious activity. Scammers are constantly evolving their tactics, and RippleX is focused on protecting its community from these deceptive schemes. The company has reiterated that no Ripple employee will ever ask for deposits or personal information from users.

The latest warning follows a string of scams targeting Ripple’s loyal user base. RippleX’s message to the XRP community is clear: verify, stay alert, and protect your assets.

The post RippleX Warns XRP Holders of Deepfake Scams Targeting Investors appeared first on CoinCentral.