Ripple CEO Brad Garlinghouse has urged members of the XRP community not to fall for various scams on social media.
His latest warning comes after the YouTube channel of the Supreme Court of India was compromised by bad actors in order to promote an XRP scam.
Garlinghouse has stressed that Ripple execs never ask anyone to send them XRP tokens.
Alex Dovbnya"It’s pathetic to see scammers prey on & exploit innocent crypto users, and the ease at which social media platforms allow it to happen. Stop, spot, avoid – protect yourself," he said.
The mushrooming of generative artificial intelligence (AI) makes cryptocurrency scams more sophisticated and insidious. Last year, scammers cloned Garlinghouse's voice to create a fake video that was promoting an XRP giveaway scam.
As reported by U.Today, a fake stream with Apple CEO Tim Cook managed to attract hundreds of thousands of views on video streaming giant YouTube ahead of the company's September event. Fraudsters were promoting a cryptocurrency giveaway scam by replicating Cook's voice.
Gasrlinghouse and Ripple actually took YouTube to court in April 2020, arguing that the video-streaming behemoth failed to protect customers. The lawsuit was then settled the following year. However, the Ripple executive took YouTube to task once again in 2023, accusing the company of benign "asleep at the wheel."
Earlier this month, the FBI revealed that Americans had lost a staggering $5.6 billion to crypto scams in 2023. Notably, cryptocurrency investment scams accounted for the vast majority of the sum.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team