In a shocking development, scammers have once again set their sights on XRP holders, employing deep fake technology to create a highly deceptive video featuring Ripple CEO Brad Garlinghouse announcing a fraudulent XRP giveaway.
The video, which has been circulating across various platforms, urges viewers to send a specific amount of XRP to a designated address, promising to double their investment within a minute.
In the video, Garlinghouse was simulated to say that the giveaway serves as Ripple’s way of expressing gratitude to the community for their steadfast support during the recent legal battle with the US Securities and Exchange Commission (SEC).
Crypto Eri, a prominent XRP community member who shared the video warned XRP holders to not let greed make them victims of the scammers’ perpetration.
Crypto Eri unequivocally stated, “Don’t fall for this deep fake scam. They will steal your XRP.”
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
A growing number of community members have expressed deep concern regarding the increasing sophistication of XRP scams, with particular emphasis on the proliferation of misleading videos on the popular video-sharing platform, YouTube.
These scams have raised questions about YouTube’s ability to effectively address the promotion of fraudulent activities while simultaneously intensifying efforts to combat the use of ad blockers.
Scammers Exploiting Recent Legal Victory
The resurgence of XRP scammers coincides with the cryptocurrency’s recent triumph in its legal battle with the SEC. Ripple has consistently emphasized that the company is not conducting any XRP giveaways, making it clear that such promotions are meant to scam XRP Holders.
XRP holders find themselves particularly vulnerable to these scams due to their strong attachment to the project and their inclination to trust information disseminated by seemingly authoritative sources. This vulnerability underscores the importance of remaining vigilant and exercising caution when confronted with promotions or requests for XRP investments.
Meanwhile, Ripple, the major distributor of XRP, is accustomed to warning investors not to send their XRP to any address. Any promotion claiming to offer an XRP giveaway should be treated as a scam.
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XRP holders are strongly advised to exercise caution and be mindful of any suspicious activity, including unsolicited emails, messages, or videos. When in doubt about the legitimacy of a promotion, it is always prudent to err on the side of caution and refrain from sending any XRP.
As scammers continue to exploit advancements in technology, the XRP community must remain vigilant and proactive in protecting their investments.
The use of deep fake videos to perpetrate fraudulent XRP giveaways highlights the need for heightened awareness and skepticism. By staying informed and cautious, XRP holders can help safeguard themselves and the community from falling prey to these malicious schemes.