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In a recent X conversation, Ripple CTO David Schwartz has flagged an impersonation scam involving Ripple CEO Brad Garlinghouse. An X user had tweeted a scam video of Ripple CEO Brad Garlinghouse highlighting future plans for XRP.
Schwartz was quick to call out the scam, responding to the tweet with a GIF image that bore "scam alert," warning the XRP community as a result.
Of recent, there has been an increase in scammers impersonating top personalities in the crypto space, including Ripple CEO Brad Garlinghouse. Bad actors often use legitimate videos from media interviews or public speaking events of these high profile figures and overlay scam content that often leads to a fake website or crypto wallet with the intent to steal funds.
Scammers also often digitally manipulate videos to produce deepfakes, with the video in this context utilizing the likeness of Ripple CEO Brad Garlinghouse to promote a fraudulent website.
Warning issued
Deepfakes are often difficult to identify and may not be discerned by unsuspecting users, hence contributing to the spread of misinformation, crypto scams and other fraudulent acts.
The posts often direct users to fake web domains that feature a public "send to" wallet address.
As a safety measure, users are urged to always be cautious when asked for their financial details, even if it appears to come from a reliable source or someone they know.
Last month, Ripple announced it had joined TRM Labs' real-time crypto crime response network, Beacon.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team